Mha (MHA) H2 2026 earnings summary

Executive summary

• Completed first year as a listed entity with strong financial progress, double-digit growth in revenue and profit, and margin expansion.

• Broadened international platform and positioned for continued growth, supported by successful M&A and integration.

• Maintains a partner-led, sector-specialist model with high recurring income and strong cash generation.

• Focused on moving upmarket, broadening client base, and leveraging technology and AI for efficiency.

Financial highlights

• Revenue increased 12% year-over-year to £251.3 million, outperforming key market peers.

• Adjusted EBITDA rose 13% to £46.5 million, with margin expanding to 18.5%.

• EPS reached 11.1p per share; cash conversion at 115%, expected to normalize to ~90%.

• Net cash position of £25.4 million, up £7.7 million from prior year.

• Dividend per share for the year is 5.2p.

Outlook and guidance

• Positive start to the new fiscal year with resilient client demand and strong acquisition pipeline in the UK and overseas.

• Board confident in achieving medium-term goal of annual revenues over £500 million.

• Continued focus on organic and inorganic growth, with opportunities in new and existing markets.

• Structural growth drivers include regulatory complexity and increased demand for services.

• Ongoing investment in AI and technology to drive efficiency and service quality.