MHA plc

MHA · AIM · Industrial Goods and Services · mcap £375m · 133.5p

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Financials · LTM to 31 Mar 26

Source: results 21 Jul 26 ↗

Revenue: £251m
Operating profit: £37.3m
Net income: £28.1m
Free cash flow: £67.5m
Net cash: £25.4m
Market cap: £383m
EV / EBIT: 9.6×
FCF yield: +17.6%
Price / book: 7.0×

Latest half-year · H1 Sep 25 vs H1 Sep 24 results 20 Nov 25 ↗

Revenue: £121m
Operating profit: £22.5m
Net income: £18.0m
Cash from operations: £36.1m

Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.

Income statement Cash flow Balance sheet

Annual Half-yearly

Latest report: FY Mar 26 (twelve months to 31 Mar 26), published 21 Jul 26 · read the results ↗

£m unless stated · newest first · italic = calculated (LTM, H2 = FY − H1) · hover a value for its source

	FY Mar 26	FY Mar 25
Revenue	251.4	224.2
Adjusted EBITDA	46.5	41.2
Exceptional / adjusting items	(2.3)	6.8
Operating profit	37.3	86.3
Depreciation (owned assets)	1.2	0.9
Depreciation (right-of-use)	3.6	3.4
Amortisation	1.5	1.1
Share-based payments	2.5	–
Finance costs	(1.6)	(1.3)
Profit before tax	36.3	85.9
Tax	(8.2)	(2.8)
Net income (owners)	28.1	83.1
EPS basic	11.1p	–
EPS diluted	11.1p	–

	H2 Mar 26	H1 Sep 25	H2 Mar 25	H1 Sep 24
Revenue	130.1	121.3	117.0	107.2
Adjusted EBITDA	24.7	21.8	0.1	41.1
EBITDA	–	25.4	–	48.0
Adjusted operating profit	–	18.9	–	38.4
Exceptional / adjusting items	(6.0)	3.6	0.0	6.8
Operating profit	14.8	22.5	41.0	45.3
Depreciation (owned assets)	0.5	0.7	0.5	0.4
Depreciation (right-of-use)	2.1	1.6	1.8	1.6
Amortisation	0.9	0.7	0.6	0.6
Share-based payments	1.8	0.7	–	–
Finance costs	(0.9)	(0.7)	(0.6)	(0.7)
Profit before tax	14.2	22.1	40.6	45.3
Tax	(4.2)	(4.1)	(1.8)	(1.0)
Net income (owners)	10.0	18.0	38.7	44.3
EPS basic	3.8p	7.3p	–	–
EPS diluted	3.9p	7.2p	–	–
Dividend per share	–	1.0p	–	–

	FY Mar 26	FY Mar 25
Cash from operations	72.7	69.1
Tax paid	(10.2)	(1.8)
Capex (PP&E)	(1.0)	(2.0)
Capex (intangibles)	(0.0)	–
Lease principal paid	(3.2)	(3.2)
Lease interest paid	(1.0)	(1.0)
Dividends paid	(2.6)	(4.0)
Share buybacks	–	(0.1)
Shares issued	98.0	–

	H2 Mar 26	H1 Sep 25	H2 Mar 25	H1 Sep 24
Cash from operations	36.6	36.1	36.1	33.0
Interest paid	–	(0.2)	–	(0.2)
Tax paid	(8.8)	(1.4)	(1.0)	(0.9)
Capex (PP&E)	(0.8)	(0.1)	(1.3)	(0.7)
Lease principal paid	(0.5)	(2.7)	(1.6)	(1.6)
Lease interest paid	(0.6)	(0.5)	(0.5)	(0.5)
Dividends paid	–	–	(1.8)	(2.2)
Shares issued	0.0	98.0	–	–

	FY Mar 26	FY Mar 25
Other intangibles	–	21.5
Property, plant & equipment	5.5	4.8
Other investments	–	0.0
Trade receivables	87.1	72.9
Cash	28.5	18.8
Current assets	116.0	92.1
Total assets	167.4	137.6
Trade payables	78.5	94.4
Borrowings, current	2.1	0.1
Lease liabilities, current	3.3	3.2
Current liabilities	89.6	100.1
Borrowings, non-current	1.1	1.1
Lease liabilities, non-current	16.4	16.4
Deferred consideration	0.3	1.8
Total liabilities	112.6	124.7
Total equity	54.8	12.9
Net cash / (debt) ex leases	25.4	17.7

	H2 Mar 26	H1 Sep 25	H2 Mar 25
Other intangibles	–	30.2	21.5
Property, plant & equipment	5.5	5.1	4.8
Other investments	–	0.0	0.0
Trade receivables	87.1	81.2	72.9
Cash	28.5	27.4	18.8
Current assets	116.0	109.0	92.1
Total assets	167.4	163.4	137.6
Trade payables	78.5	80.4	94.4
Borrowings, current	2.1	0.5	0.1
Lease liabilities, current	3.3	3.0	3.2
Current liabilities	89.6	89.1	100.1
Borrowings, non-current	1.1	1.2	1.1
Lease liabilities, non-current	16.4	16.2	16.4
Deferred consideration	0.3	4.7	1.8
Total liabilities	112.6	116.2	124.7
Total equity	54.8	47.2	12.9
Net cash / (debt) ex leases	25.4	25.7	17.7

Line items extracted automatically from each results announcement; when a later report restates a period, the later figure is shown. LTM and H2 are calculated from reported periods. Check the source before relying on a figure.

Company filings. Not investment advice.