MBH Corporation PLC builds significantly on 2020 with growth in revenue of 81% in first half of 2021
- 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 - EQS Newswire - 30 September 2021 - (OTCQX:MBHCF)(FRA:M8H) The Directors of MBH Corporation PLC ("MBH"), 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
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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.