MHA, a leading professional services provider of audit and assurance, tax, accountancy and advisory services, has announced the interim full-year combined results of its operating entities for the six months ended 30 September 2025.
Revenue increased to £121.3m in the six-month period, up 13.2% from H1 FY 25. The increase was a result of both organic (9.2%) and acquisitive (4%) growth. Adjusted underlying EBITDA was up 11% to £21.9m from £19.7m while adjusted profit before tax was up 8.8% to £18.5m from £17m.
MHA expects to deliver a full-year performance in line with market expectations, with significant long-term opportunities for both organic and acquisitive growth.
Rakesh Shaunak, Chief Executive Officer of MHA says: “We delivered a strong trading performance in the first half of FY 2026 with positive results for a business that continues to grow organically and by way of acquisition, a model that has underpinned our success to date and that we expect will support our future expansion. As always, I am truly indebted to the endeavours of an exceptional staff and partners, without whom our success would not be possible.”
MHA experienced strong growth across all service lines during the period, supported by high retention levels and continued demand for audit, tax and advisory services.
Activity was particularly strong in key sectors including financial services, manufacturing, professional services and engineering and technology, each recording significant double-digit revenue growth.
MHA’s tax teams experienced increased volumes (up 17% in fees) as clients responded to recent changes in UK tax rules and cross-border requirements, which continue to generate high demand for specialist advice.
The integration of Baker Tilly South East Europe that was competed in the period is progressing to plan and the firm is seeing early benefits from the expansion of its geographic reach and service capabilities. Investment following the IPO is strengthening the platform further, particularly in technology and data, where initiatives are beginning to enhance efficiency and client delivery. Rakesh explains:
“Adoption of AI and automation continue to increase across the firm. More of our people are now using automation in Personal and Corporation Tax, and our pilots of tools such as ChatGPT Enterprise and Microsoft Co-Pilot are expanding into day-to-day workflows.
“We continue to take a measured, cost-effective approach, ensuring technologies meet our standards for maturity, security and regulatory compliance.”
MHA enters the second half of the financial year with positive momentum and good visibility across its core service lines. Demand for high-quality audit, tax and advisory support remains resilient, underpinned by increasing regulatory complexity and the breadth of MHA’s sector exposure.
This, together with the firm’s growing international footprint, continues to support a healthy pipeline of opportunities.
Rakesh says: “With a strong first half and a clear set of strategic priorities, all of us at MHA remain confident in our prospects for the remainder of the year, despite an uncertain economic backdrop. We expect to deliver a full-year performance in line with market expectations and continue to see significant long-term opportunities for both organic and acquisitive growth.”
