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MBH Corporation Plc
Earnings Release • Sep 29, 2023
5992_rns_2023-09-29_1a37b9d6-cb46-4ffe-b0c7-02d770d97f0d.html
Earnings Release
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National Storage Mechanism | Additional information
MBH Corporation Plc (M8H)
MBH Corporation Plc Announces H1 2023 Financial Results
29-Sep-2023 / 07:54 GMT/BST
The issuer is solely responsible for the content of this announcement.
London, 29 September 2023 The Directors of MBH Corporation PLC (“MBH”), a diversified investment holding company, are pleased to release the results for the half year ending 30 June 2023, highlighting the continued focus on the Group’s growth and diversification strategy and development of its vertical business lines.
For the half-year period, the Group achieved revenue of £66.2 million – a 9% decrease on the same period last year as well as an EBIT of £0.7 million. Gross profit for the period was £12.1m. The financial figures include the results of the two companies acquired in 1H 2023, White Arches Caravans and White Arches Motorhomes, as well as showing a resilient revenue growth for the Group’s expanding Engineering vertical business line, owing to a steady revenue stream from new-projects awarded.
Solid financial position
The balance sheet of the Group remains strong with a net asset position of £72.3 million as of 30 June 2023, a 1% increase versus the same period last year. Operating costs were lower by £2.3m [or 18%] mainly due to reductions in payroll costs, advertising and marketing and the absence of a bad debt provision. Cash generated from operating activities for 1H 2023 was £2.7million. The total number of shares outstanding as of 30 June 2023 was 122,709,146.
The complete 2023 half-year report is available on the Group's website at:
mbhcorporation.com/financial-half-year-report-2023
Contacts for IR and media enquiries:
MBH Corporation plc
Charlotte Fordham
+44 (0) 770 396 3953
Corporate Adviser
First Sentinel Corporate Finance Limited
Brian Stockbridge
+44 (0) 7858 888 007
Information and Explanation of the Issuer to this News:
Victoria Sylvester, CEO, MBH Corporation PLC: "The first half of the year has been challenging for the Group, specifically within our biggest contributor - the construction vertical – with many pre-pandemic projects coming to an end. High inflation on cost of goods, supply chain issues with distribution and delays in project completion have also contributed to the challenges. However, I am pleased to see us moving into new business and the construction vertical, for example, has a healthy pipeline of new projects. In addition, we continue to focus on vertical depth, and our recent acquisitions in the leisure vertical, with two new businesses joining the Group in the first half of the year, demonstrates our progress with regards to our inorganic growth plans”.
About MBH Corporation
MBH Corporation plc is a diversified investment holding company, listed on the Frankfurt and Dusseldorf Stock Exchanges (M8H0) and the Aquis Exchange (M8H) in London. 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
Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
| ISIN: | GB00BPNYZL95 |
| Category Code: | NOR |
| TIDM: | M8H |
| LEI Code: | 213800NXJ8SAXU8GBY43 |
| Sequence No.: | 274709 |
| EQS News ID: | 1737559 |
| End of Announcement | EQS News Service |