MHA Reports Impressive 32% Increase in Half-Year Revenues
MHA, a professional services firm with Lancashire offices in Preston and Lancaster, has recently announced a significant growth in revenues for the first half of the financial year. The firm reported revenues of £99m for the six months ended 30 September 2024, marking a substantial 32% increase from the same period last year when revenues were at £75m. This growth trend is part of a larger upward trajectory, with MHA’s overall revenue doubling over the last four years from £90m in 2020.
Growth Across Service Lines and Sectors
The impressive revenue increase was seen across all of MHA’s service lines, with Audit & Assurance and Tax showing the most significant growth. Additionally, the firm’s top six sectors, including Financial Services, Consumer Products, Technology, and Automotive & Transport, all experienced expansion during this period.
Headcount and Expansion
MHA’s growth is not just limited to revenues, as the firm has also seen an increase in headcount and expansion efforts. With the addition of two new Irish offices in July, MHA now boasts a total of 1916 employees across 23 offices, including 147 partners. This latest merger follows a series of strategic moves by MHA, including the opening of offices in Scotland and Wales in late 2023 and a merger with MHA Moore & Smalley.
Future Outlook and Ambitious Growth
Looking ahead, MHA anticipates continued growth and expansion in the coming years. The firm recently announced a merger with Roberts Nathan to form a new entity operating as Baker Tilly in the Republic of Ireland. This merger is expected to create 100 new jobs over the next two years, further solidifying MHA’s presence in the region.
Rakesh Shaunak, group chairman and managing partner of MHA, expressed confidence in the firm’s growth trajectory, stating, “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.”
In conclusion, MHA’s impressive revenue growth, coupled with strategic expansions and mergers, positions the firm for continued success in the professional services industry. As the firm looks towards the future with optimism, its commitment to growth and excellence remains unwavering.
