MHA plc, a leading provider of audit and assurance, tax, accounting, and advisory services in the United Kingdom and Ireland, and a member of the global Baker Tilly International network, announced strong performance for the financial year ended 31 March 2026, confirming the momentum of its growth and the resilience of its business model.
For Baker Tilly South East Europe, integration into the Group creates stronger growth prospects in the markets of Greece and Cyprus, enhancing access to larger-scale projects, expanding the cross-border client base, and improving the ability to generate stable, recurring revenues through a broader and more diversified regional service portfolio.
The Group’s turnover increased by 12%, reaching approximately £251 million compared to £224.2 million in the previous financial year, in line with market expectations. At the level of operating profitability, adjusted EBITDA also rose by 12%, reaching approximately £46 million, exceeding consensus forecasts, indicating improved margins and effective cost control. At the same time, net cash position strengthened significantly, reaching £24 million at the end of the period, compared to £17.7 million a year earlier.
Trading
The Group continued to trade strongly through the second half of the year. Demand remained robust across all four service lines, supported by rising regulatory complexity and growing client demand for integrated, multi-service advisers. The Group's sector-led approach continued to differentiate it in the market, with double-digit fee growth in financial services, manufacturing and engineering, and professional services.
Acquisitions
In August 2025, the Group completed the acquisition of Baker Tilly South East Europe ("BTSEE"), establishing a presence in Cyprus, Greece and South East Europe. On 7 April 2026, following the period end, the Group completed the acquisition of Moore Stephens LLC and Moore Stephens Consulting LLC ("MS UAE"), extending the Group's footprint into the Middle East. Both acquisitions are performing in line with the Board's expectations and are expected to be earnings-enhancing within their first full financial years following completion.
The Group's acquisition pipeline remains active, both in the UK and overseas. The Group will continue to pursue acquisitions on a selective basis, focused on quality, geographic coverage and sector experience.
Outlook
The structural drivers of demand for MHA's services remain firmly in place. The Board sees a clear runway for growth, supported by organic expansion across the Group's four service lines, a healthy pipeline of acquisition opportunities both in the UK and overseas, and continued investment in technology, AI, talent and sector specialisation. The Board remains confident in the Group's prospects for the current financial year and in the delivery of its medium-term ambition of generating annual revenues in excess of £500 million.
Rakesh Shaunak, Chief Executive Officer of MHA, commented:
“FY26 has been a year of strong delivery and meaningful strategic progress for MHA. The acquisitions of BTSEE and MS UAE have materially extended our international footprint, and our continued investment in technology and AI is supporting the depth and quality of the work we do for clients, and the productivity of our people.
“We enter FY27 with a broader platform, an attractive pipeline and a demand environment that remains supportive of high-quality professional advice. Looking ahead, the Group is well positioned to continue building long-term value for shareholders, organically and through selective M&A.”
