Group revenue rose to approximately £251 million for FY26, up from £224.2m in the prior year, in line with market expectations. Adjusted EBITDA increased by 12% to approximately £46m, compared with £41.1m in FY25, exceeding market forecasts.

The group ended the period with net cash of approximately £24m, an improvement on the £17.7m reported at the end of FY25, providing a strengthened balance sheet to support both organic investment and further acquisitive growth.

In line with its stated capital allocation framework, MHA maintained its progressive dividend policy throughout the year, with quarterly distributions paid in accordance with the group’s stated approach.

Trading momentum continued into the second half, with demand holding firm across all four service lines. Management pointed to rising regulatory complexity and growing client appetite for integrated, multi-service advisers as key tailwinds underpinning the performance.

The group’s sector-focused strategy delivered double-digit fee growth in financial services, manufacturing and engineering, and professional services, reinforcing the commercial logic of its specialist approach.

The financial year was also marked by significant strategic progress on the international front. In August 2025, MHA completed the acquisition of Baker Tilly South East Europe (BTSEE), establishing operations in Cyprus, Greece and the wider South East Europe region.

Shortly after the period end, on 7 April 2026, the group completed the acquisition of Moore Stephens LLC and Moore Stephens Consulting LLC, extending its reach into the Middle East.

Both transactions are trading in line with the board’s expectations and are anticipated to be earnings-enhancing within their first full financial years following completion. The acquisition pipeline remains active across both UK and overseas markets, with management continuing to apply a selective approach focused on quality, geographic coverage and sector expertise.

Looking ahead, the board has reiterated its confidence in the Group’s prospects, citing the structural drivers of demand for professional services, organic growth opportunities across the four service lines, a healthy acquisition pipeline and ongoing investment in technology, artificial intelligence, talent and sector specialisation. MHA continues to target its medium-term ambition of generating annual revenues in excess of £500m.

Chief executive officer Rakesh Shaunak said: “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.”

MHA’s full year results are expected to be announced in July 2026.