MBH Corporation PLC Builds Significantly on 2020 with Growth in Revenue of 81% in First Half of 2021

Rhea-AI Summary

MBH Corporation reported impressive results for the first half of 2021, with revenues soaring by 81% to £49.6 million compared to £27.4 million in 2020. The company's EBIT increased by 271% to £3.0 million from £0.8 million last year. The net profit after tax stood at £1.9 million, attributed to the success of four new acquisitions. The strong financial position includes a net asset value of £62.7 million and a net cash position of £6.3 million. CEO Callum Laing expressed optimism about the company’s ability to navigate ongoing pandemic challenges.

Positive

• Revenue increased by 81% to £49.6 million in 1H 2021 compared to £27.4 million in 1H 2020.
• EBIT rose 271% to £3.0 million, up from £0.8 million in the same period last year.
• Net profit after tax was £1.9 million, indicating strong financial performance.
• Continued growth driven by four acquisitions made in 1H 2021.

Negative

• Ongoing pandemic-related lockdowns still impact operations in Antipodean and Asian markets.

Revenues up by 81% to £49.6 million in first half of 2021

EBIT increase by 271% to £3.0 million vs first half of 2020

MBH Corporation now comprises 25 companies across 8 verticals

LONDON, UK / ACCESSWIRE / September 30, 2021 / The Directors of MBH Corporation PLC ("MBH") (OTCQX:MBHCF)(FRA:M8H), a diversified investment holding company, are pleased to release the results for the half year ended 30 June 2021, highlighting the continued success of the Company's growth and diversification strategy.

For the half-year period, the Company achieved revenue growth of 81% to £49.6 million (1H 2020: £27.4million) and a net profit after tax of £1.9 million. Earnings before interest and taxes ("EBIT") increased by 271% to £3.0 million (1H 2020: £0.8 million). The financial figures include the results of 4 companies acquired in 1H 2021, 3k Engineering, Boulder Sausage, 4X Taxis and Intercity Taxis.

Callum Laing, CEO, MBH Corporation PLC : "We are pleased to deliver this strong half-year report and solid growth in both revenue and EBIT. Although various pandemic related lockdowns and restrictions are still in place for the Group's Antipodean and Asian companies, it is worth noting that more than 60% of the revenue and 90% of the EBIT of the Group occurred from April onwards. A telling example of the power of the Group to generate revenue and profits as we slowly emerge from the global pandemic situation"

Solid financial position

The balance sheet of the Group remains strong with a net asset position of £62.7 million as of 30 June 2021. By comparison, as of 31 December 2020 the net asset position was £59.8 million. The net cash position (which includes bank overdrafts) for the first 6 months of 2021 was £6.3 million, an increase of £0.5 million from 31 December 2020. Cash generated from operating activities for 1H2021 was £3.8 million. The total number of shares outstanding as at 30 June 2021 was 73,681,548.

Callum Laing adds: "Year to date we have announced 5 further acquisitions for the Group: 3Ks Engineering, Boulder Sausage, 4X Limited Taxis, InterCity Taxis and VistaCare. We are cautiously optimistic that our businesses have regained some momentum and believe that despite ongoing challenges our companies are well equipped to keep delivering services to their clients and positive results to all our shareholders"

The complete 2021 half-year report is available on the Group's website at www.mbhcorporation.com/financial- half-year-report-2021

Webinar 'Meet the Principals':

Join all our Principals on 21st October 2021, 3.00pm GMT [UK], to hear how they have performed over the last six months. Please register in advance for this webinar here:

www.eventbrite.co.uk/e/live-principals-event-tickets-175846711247

Ends/

Contacts for IR and media enquiries:

- MBH Corporation plc, Charlotte Williams, charlotte@unity-group.com, +44 (0)770 396 3953

- Perception A, Phil Anderson & Charlie Nelson, phil@perceptiona.com, +44 (0)776 749 1519

About MBH

MBH Corporation plc (M8H:GR) is a diversified investment holding company, listed on the Frankfurt and Dusseldorf Stock Exchanges and the OTCQX in New York (MBHCF). The company acquires small to medium enterprises across multiple geographies and sectors that are well established, profitable and looking to scale. By leveraging the Agglomeration strategy, MBH Corporation plc is able to create substantial shareholder value through the consistent and accretive acquisition of excellent companies.

mbhcorporation.com

SOURCE: MBH Corporation Plc

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https://www.accesswire.com/666223/MBH-Corporation-PLC-Builds-Significantly-on-2020-with-Growth-in-Revenue-of-81-in-First-Half-of-2021

FAQ

What was MBH Corporation's revenue growth in the first half of 2021?

MBH Corporation reported an 81% increase in revenue, reaching £49.6 million in the first half of 2021.

How much did EBIT increase for MBH Corporation in 1H 2021?

EBIT for MBH Corporation increased by 271% to £3.0 million in the first half of 2021.

What is the net profit after tax for MBH Corporation in the first half of 2021?

The net profit after tax for MBH Corporation in the first half of 2021 was £1.9 million.

What acquisitions did MBH Corporation make in the first half of 2021?

MBH Corporation acquired four companies: 3K Engineering, Boulder Sausage, 4X Taxis, and Intercity Taxis in the first half of 2021.

What is the net asset position of MBH Corporation as of June 30, 2021?

As of June 30, 2021, MBH Corporation had a net asset position of £62.7 million.