DGAP-News

MBH Corporation reports growth in key areas despite challenging 2020 for small business - Seite 2

All Principals in the Group have already indicated their preference for additional shares demonstrating their belief and commitment to the Group.
.

Callum Laing, CEO of MBH Corporation plc, said: "2020 was a very active year for us and despite the pandemic's impact on global market conditions we were able to acquire more long-standing and outstanding companies with experienced and entrepreneurial leadership teams. They are now poised to take advantage of the benefits of being a member of the MBH Group. We believe our shareholders should benefit from our progress and be rewarded for their confidence in the model and consequently are proud to be able to offer this dividend."

Solid financial position
The balance sheet of the Group remains strong with a net asset position of GBP59.8 million. Cash and cash equivalents amounted to GBP5.8 million as of 31 December 2020 and the debt to equity ratio slightly below 1. The total number of shares outstanding amounted to 70.5m at the end of 2020, up from 39.2m at the end of 2019. The new shares were mainly issued as consideration for acquisitions and contingent consideration payments.

Continuing growth and diversification
In 2020 MBH continued its growth and diversification strategy acquiring 12 profitable and well-established companies. Adding 4 new industry verticals and expanding to 3 new countries, the Construction Services segment remains the largest vertical within the MBH portfolio and was a sector that was hard hit by the pandemic. As a result, the construction vertical EBIT was significantly down on the previous year.

All other verticals recorded revenue growth in 2020.

Callum Laing, CEO of MBH Corporation plc, commented: 'In 2020 we have clearly demonstrated the resilience of our Group which comes after strong organic growth of our companies in 2019. I would like to extend my most sincere thanks to the company Principals who have been unfailingly proactive, innovative and positive in supporting their clients and their teams during this period. This has been key in allowing MBH to deliver a solid performance at a time when many businesses have not been so fortunate. As the small business sentiment moves from survival to growth, 2021 promises to be an exciting year for all involved.'