MHA Confident After Strong H1 26 Performance

MHA plc (LON: MHA) has announced a robust trading update for the six months ended September 30, 2025, signaling confidence in meeting full-year market expectations.

The professional services provider is on track, with revenue growth, operating margins, and cash generation aligning with the Board's projections.

H1 26 revenue is anticipated to reach approximately £121.3 million, marking a 13% increase compared to H1 25 (£107.2 million). Acquisitions played a role in this surge, with 3% attributed to the acquisition of Baker Tilly South-East Europe Holdings Limited and 1.5% to a full period contribution from Baker Tilly Ireland, acquired in July 2024.

Despite prevailing market uncertainties in FY26, MHA has experienced sustained demand for its advisory services. Increased regulatory complexity remains a key driver, bolstered by a strategic focus on expanding in key market sectors.

The company completed a successful AIM IPO in April 2025, raising gross proceeds of £97.8 million. These funds are earmarked for investments in technology, including AI, and to support further acquisitions aimed at accelerating growth.

In August 2025, MHA finalized the acquisition of BTSEE, a professional services firm operating in Cyprus, Greece, and South-East Europe. The integration process is proceeding as planned, with the acquisition expected to enhance earnings within the first full financial year post-completion.

The Group's Interim Results are scheduled for publication in late November 2025.

Driver Breakdown:

• Acquisitions: Strategic acquisitions like BTSEE and Baker Tilly Ireland are significantly contributing to revenue growth.
• Advisory Services Demand: Rising regulatory complexity is fueling demand for MHA’s high-quality advisory services.
• Sector Focus: Targeted growth in key sectors such as financial services, manufacturing, professional services, and engineering and technology is driving performance.

CEO Rakesh Shaunak commented, “The Group experienced strong growth across all service lines in H1 26, reflecting the strength of our platform and the success of both organic and acquisitive expansion…The Board remains confident in the outlook for continued organic and acquisitive growth, in line with its medium-term goal of exceeding £500 million in annual revenues.”