MBH Corporation Plc
MBH half year results show 4 acquisitions and annualised pro-forma revenue increase to £ 97m
DGAP-News: MBH Corporation Plc
/ Key word(s): Half Year Results
MBH half year results show 4 acquisitions and annualised pro-forma revenue increase to £ 97m
During the first half of the year the original three portfolio companies, Parenta and Acacia within the Education vertical and Cape within the Construction Services vertical have continued to thrive with steady organic growth. For the period, revenues from companies acquired in 2018 was up by 7% and EBITDA grew by 6% from companies acquired in 2018 compared to the same period last year. During the first 6 months of 2019, a further three additional companies have been acquired. Guildprime Specialist Contracts Ltd has been added to the Construction Services vertical, International School of Beauty has been added to the Education Vertical, and the company’s largest acquisition to date, APEV, has been added as a newly formed Engineering vertical. Du Boulay was acquired in December 2018, and started contributing revenues to 2019. As a consequence, MBH’s annualized pro-forma revenues increase from £ 37m at the end of 2018 to £ 97m with an additional pro-forma EBITDA of £ 6m. These additional four businesses continue MBH’s diversification strategy with assets now operating from the UK, New Zealand, Singapore and Papua New Guinea, within the fields of Education, Construction Services and Engineering. In H1 2019, cash flow from operating actives was £ 1.5m. As of 30 June 2019 working capital increased to £ 7.5m and cash on hand amounted to £ 4.3m. “It has been a very positive start to the year. We are about to move into what will be a very exciting final quarter. Interestingly, with the companies we currently have in the group, based on previous years, the bulk of their earnings have come in the second half. Typically, around 65% to 70% of the full year’s earnings fall between July and December and we have no reason to expect different this year. The acquisitions have already started to ramp up and we are still confident that we will end the year with at least 15 companies within the group.” – says Callum Laing, CEO. “We are very pleased with the results for the first half of 2019. The companies that were part of the original listing have delivered steady organic growth in both revenue and earnings. We have also managed to complete acquisitions that collectively delivered approximately £6m in EBITDA in the respective companies’ latest full year results. We are excited about the future and will continue to strive to strengthen our balance sheet and deliver solid operating results for our shareholders.” – says Victor Tan, Chief Financial Officer.
MBH Corporation plc is a diversified investment holding company, listed on the Frankfurt and Dusseldorf Stock Exchanges. 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, accretive acquisition of excellent companies.
MBH Corporation plc, Charlotte Williams, charlotte@unity-group.com, +44 (0)770 396 3953 Kirchhoff Consult AG, Nicole Schüttforth, nicole.schuettforth@kirchhoff.de, +49 (0)40 609186 64
30.09.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | MBH Corporation Plc |
Studio 7-9, Royal Patriotic Victoria Building, Joh | |
SW18 3SX London | |
United Kingdom | |
E-mail: | fo@mbhcorporation.com |
Internet: | https://www.mbhcorporation.com/ |
ISIN: | GB00BF1GH114 |
WKN: | A2JDGJ |
Listed: | Regulated Unofficial Market in Dusseldorf, Frankfurt |
EQS News ID: | 882597 |
End of News | DGAP News Service |