Accountancy firm posts strong first-half results

Accounting and advisory firm MHA, which has offices in Leicester, Northampton and Birmingham and is the UK and Ireland member of Baker Tilly International, has posted strong first half figures.

Revenues reported for the six months ended 30 September were £99m – an increase of 32% on H1 last year, with “nearly all” of MHA’s offices experiencing significant double-digit growth in first half of the year.

Revenue has doubled in the last four years from £90m in 2020. MHA says it has historically received a higher proportion of its fees in H2 suggesting that for the full financial year 2025 revenues will exceed £200m.

There was growth across all of MHA’s service lines with Audit & Assurance, and Tax being the most significant. The firm’s top six sectors expanded with growth led by Financial Services, Consumer Products, Technology, and Automotive & Transport.

With the addition of two new Irish offices in July headcount is now 1,916 people across 23 offices with 147 partners. This latest merger caps a busy 12 months for MHA, having opened offices in late 2023 in Scotland and Wales for the first time, as well as the merger with MHA Moore & Smalley.

Since 1 April the firm has welcomed 416 new starters and announced 270 promotions across the country.

On 1 July MHA announced a merger with Roberts Nathan to form a new firm which is going to market as Baker Tilly in the Republic of Ireland and will create 100 new jobs over the next two years to bolster the 70 existing staff and partners. The new roles will range from graduates to experienced professionals in Dublin and Cork, spanning audit and assurance, advisory, and tax services.

Rakesh Shaunak, group chairman and managing partner, said: “MHA has had a strong first six months of the financial year with growth coming both organically, as well as via our successful merger in Ireland. We will continue to move with purpose, pace and an ambitious growth mindset. We look confidently ahead to anticipated double digit organic growth for the full financial year 2025 and beyond.”