Trading Update and Notice of Results

MHA PLC

30 October 2026

 

30 October 2026 

MHA plc

("MHA", the "Company" and together with its subsidiaries the "Group")

 Trading Update and Notice of Results and Presentations

 Strong first-half performance; on track to meet full-year expectations

Trading Update

MHA (AIM: MHA), a leading professional services provider of audit and assurance, tax, accountancy and advisory services, is pleased to announce an update on trading for the six months ended 30 September 2026 ("H1 27").

Revenue growth, operating margins and cash conversion were consistent with the Board's expectations. With recurring revenue, a key feature of the Group's model, remaining at approximately 87% of total revenue, the Group has good visibility into H2 27. The Group remains on track to deliver a full-year performance in line with market expectations¹.

H1 27 revenue is expected to be approximately £134.6 million, up 11% on the prior period (H1 26: £121.3 million). Organic growth was 4%, against a strong comparative period. The remaining 7% of growth was contributed by the two acquisitions completed since the Company's IPO: Baker Tilly South-East Europe ("BTSEE") in August 2025, and Moore Stephens UAE ("MS UAE") in April 2026. Integration of these earnings enhancing acquisitions has progressed well and both businesses are performing in line with the Board's expectations. The Company's M&A pipeline remains strong.

Overall demand has remained resilient, particularly for audit and assurance services, supported by increasing regulatory complexity, and for high-quality advisory services. The Group's established sector expertise remains an important differentiator, with financial services, professional services, real estate and construction, and automotive and transport each recording double-digit revenue growth compared with H1 26.

Notice of Results and Presentations

The Group will announce its interim results for the six months ended 30 September 2026 on Thursday 19 November 2026. Management will host an in-person analyst presentation in London at 9.30am that day. Analysts wishing to attend should register by emailing [e-mail].

A live presentation for existing and potential shareholders will be held via the Engage Investor platform at 1pm on Friday 20 November. Questions can be submitted before or during the event. Register here: https://engageinvestor.news/MHA_H127 

Rakesh Shaunak, Chief Executive Officer of MHA, commented:

"Our strong first-half performance reflects continued demand for our specialist services, with healthy revenue, margins and cash conversion. BTSEE and MS UAE have extended our expertise and international reach, adding to our longstanding record of successful acquisitions, and our pipeline remains active, both in the UK and overseas.

"Closer collaboration across our service lines is creating opportunities to provide more services to existing clients. Our investment in technology, including the AI tools increasingly used across the firm, is improving productivity, and we expect it to support margin progression over time. We remain confident of delivering a full-year performance in line with market expectations, and in our medium-term ambition of annual revenues in excess of £500 million."

¹ The Group believes current market expectations for FY 27 to be revenue of £275.9 million and underlying adjusted EBITDA of £50.8 million.

Contacts

MHA	www.mha.co.uk
Rakesh Shaunak, Chief Executive Officer	via Alma
Steven Moore, Chief Financial Officer
Cavendish Capital Markets Limited (Nominated Adviser & Broker)
Stephen Keys, Callum Davidson (Corporate Finance) Michael Johnson (Sales) Sunila de Silva (ECM)	[phone]
Alma Strategic Communications	[e-mail]
Andrew Jaques, David Ison, Joe Pederzolli, Emma Thompson	[phone]

About MHA

MHA is a leading professional services provider of audit and assurance, tax, accountancy and advisory services, based in the UK with an international presence.

MHA employs over 2,300 people and has 157 partners across its network of 32 offices in the UK, Ireland, South-East Europe, the UAE and the Cayman Islands.

MHA is the representative of the Baker Tilly International ("BTI") network in the UK, Ireland, Cyprus, Greece, Romania, Bulgaria and Moldova.

BTI is the 8th largest global network of accounting and professional services firms with over 750 offices in 147 jurisdictions. 

 

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