MBH Corporation PLC (OTCQX:MBHCF, ETR:M8H) said sales almost doubled in 2021 with the disruption caused by the pandemic enabling it to buy more established businesses with more experienced management.
The board proposed a dividend of €0.005 per share, giving a dividend yield of roughly 2.5%.
Revenues rose by 94% to £108.8mln (2020:£56.1mln) in the year to the end of December 2021, with underlying earnings up by 224% at £5.2mln and net profit after tax rising to £3mln from £1.1mln.
An investment company, MBH added that the financial figures include the results of 18 companies for the full year and proportionately five companies acquired during the financial year.
Callum Laing, MBH chief executive, said: “The global pandemic had a significant impact on global market conditions, but despite that we have remained active and optimistic throughout 2021 and we are very pleased and proud of the results.
“We have been able to acquire more long-standing and exceptional companies with experienced entrepreneurial leadership teams and we remain laser-focused on maintaining this momentum and delivering further returns for our shareholders in 2022.”
MBH added it ended the year with net assets of £62.8mln, an increase of 5% over 2020, and generated £5.1mln in cash over the year.
“Cash generation will continue to be the focus for the group in 2022 as it strives to increase its cash position on the back of the continued post-pandemic recovery momentum.”
Construction Services increased revenues by 60% in spite of its being among the sectors worst hit by the pandemic, said Laing.
All other of the group’s verticals recorded revenue growth in 2021, he added, adding his company leadership teams had been consistent and relentless in supporting their clients and teams during this period.
“As the small business environment begins to pivot back towards growth, it is clear that 2022 will be an exciting year ahead.”