Highlights

  • MHA’s H1FY25 revenue rose 13.2% year-on-year to GBP 121.30 million, supported by organic client growth and acquisitions
  • Operating profit declined 50.2% year-on-year to GBP 22.52 million amid higher administrative and acquisition-related costs
  • Cost pressures in H1FY25 reflected IPO-related structural and remuneration changes
  • Management stated that FY25 trading remains in line with full-year market expectations, with H2 growth opportunities anticipated.

MHA PLC (LSE:MHA) is a United Kingdom–based holding company listed on the FTSE AIM 100 Index. The company provides professional services spanning audit and assurance, tax, accountancy, and advisory offerings.

MHA’s revenue for the first half of fiscal year 2025 (H1FY25) increased to GBP 121.30 million from GBP 107.19 million in H1FY24, reflecting year-on-year growth of 13.2%, supported by decent organic expansion from existing clients and strategic acquisitions that broadened service lines and geographic coverage.

Operating profit fell sharply to GBP 22.52 million from GBP 45.25 million, a decline of 50.2%, primarily due to higher administrative expenses, acquisition-related costs, and partner remuneration restructuring following the IPO.

Profit dropped to GBP 18.00 million from GBP 44.34 million, down 59.4% year-on-year, as the shift to a PLC model means partner remuneration is now expensed in the income statement rather than treated as a profit distribution under the previous partnership structure.

Company Outlook

As per the company, current trading is in line with full-year market expectations, with management indicating that performance so far matches internal and external forecasts for the year. The second half of FY25 is expected to offer continued growth opportunities as corporate clients reassess long-standing advisor relationships, especially in situations where regulatory complexity, deep sector expertise, or international reach are critical decision factors.

Top 10 Shareholders

The ten largest shareholders collectively account for approximately 35.72% of the company’s total shareholding. Among them, MHA PLC Employee Benefit Trust and Octopus Investments Limited are the largest holders, with stakes of around 9.13% and 8.99%, respectively.

Stock Information

Over the past month, the share price of MHA has declined by 6.70%, while the three‑month performance shows a gain of 2.68%. The stock is currently trading above the average of its 52‑week high price of GBX 173.26 and its 52‑week low price of GBX 100.00.


Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 16 December 2025. The reference data in this report has been partly sourced from EODHD/Others.

Technical Indicators Defined

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.