MHA reports 47.4% income growth in FY25

MHA has reported a 47.4% increase in total comprehensive income to £83m for the fiscal year ending 31 March 2025 (FY25).

The AIM-listed company, known for its audit, tax and advisory services, achieved revenue of £224.2m, up from £154m the previous year, with 38% of this growth being organic.

In April, the company went live on London’s AIM market.

MHA CEO Rakesh Shaunak said: “I am delighted and honoured to present to you the maiden results for our underlying business following our admission to the AIM market on 15 April, where we raised gross proceeds of approximately £98m, the largest AIM IPO [initial public offering] of 2025 and the largest in the professional services sector for five years.”

The group’s adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) for the year were £41.1m, a 32.6% increase from £31m in FY24.

MHA said it experienced growth across all business sectors, particularly in retail, consumer and hospitality, real estate and construction, financial services, and automotive and transport.

“Our growth has been based upon, and will continue to be driven by, favourable market drivers linked to increasing and more complex regulation and extended compliance and oversight requirements in many industries,” Shaunak added.

The company recently acquired Baker Tilly South-East Europe Holdings (BTSEE), expanding its reach in Cyprus, Greece and south-eastern Europe.

The CEO went on to say: “Our acquisition of BTSEE marks the next exciting stage of our expansion into mainland Europe and is expected to be earnings accretive from its first full year. We also expect to benefit from the recently announced expansion of Baker Tilly in the US and the increase in profile of the Baker Tilly network globally.

“As the UK member firm, MHA is well placed to capitalise on the increased visibility this brings, particularly in international markets and cross-border referral activity.”

Looking forward, MHA is committed to sustaining organic growth, integrating acquisitions, and exploring further mergers and acquisitions (M&A).

The company aims to build a £500m revenue business in the medium term.

“MHA reports 47.4% income growth in FY25 ” was originally created and published by International Accounting Bulletin, a GlobalData owned brand.

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