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MHA has reported a 45% rise in revenues to £224.2m for the year ended 31 March, driven by organic growth and acquisitions ahead of its stock market debut.
During the period, adjusted EBITDA also rose 32% to £41.1m. According to the firm, these results reflect MHA’s performance prior to its IPO on 15 April, which raised £98m and was the largest listing on the Alternative Investment Market this year.
The group, which provides audit, tax, accountancy and advisory services, reported broad-based growth across offices, sectors and service lines. Headcount now stands at nearly 2,350, including 153 partners across 30 offices.
On 11 August, MHA completed its acquisition of Baker Tilly South East Europe. The deal is part of its strategy to expand in mainland Europe, following the boost to its balance sheet and profile from the IPO.
Rakesh Shaunak, chief executive of MHA, said: “These results reflect the success of our highly focused and market facing business sector approach, effective cross selling strategies, the adoption and development of enhanced technology and AI in driving efficiencies and quality, and most of all the efforts and quality of an exceptional team of staff and partners, without whom our success would not have been possible.
“While market conditions remain demanding, the trends driving our profession are firmly in our favour. With a clear strategy, a strong balance sheet and an exceptional team, I am confident that we are well placed to deliver on the commitments we set out at IPO.”
MHA said around half its workforce now uses artificial intelligence or automation tools, with about 30% having received formal, role-specific training. Current initiatives include automation in personal and corporation tax, and pilot schemes using ChatGPT Enterprise and Microsoft Co-Pilot for research and drafting.
The group said it is trading in line with expectations for the current financial year.
