MHA, an independent UK member of Baker Tilly International, has appointed Murray Watt as partner and head of operations. In this position, Watt will work with the CEO and senior leadership to implement MHA’s growth, transformation and operational priorities. MHA group chairman and CEO Rakesh Shaunak said: “Murray brings a rare combination of strategic clarity and operational discipline. “His experience driving growth and transformation initiatives across global markets will be invaluable as we continue ...

Financial Data and Key Metrics Changes - The company reported first quarter revenue of $145 million, a 12% increase compared to $129 million in the same quarter of the previous year [5][17] - Adjusted EBITDA was negative $8.7 million, reflecting a 13% improvement over the previous year [6][21] - The net loss for the quarter was $4.4 million, or $0.11 per share, an improvement from a net loss of $10 million, or $0.26 per share, in the prior year [21] Business Line Data and Key Metrics Changes - Brokerage revenue accounted for 85% of total revenue, amounting to $124 million, which is a 13% year-over-year increase [17] - Private client brokerage revenue grew 6% during the quarter, while middle market and larger transactions saw a 30% increase in dollar volume [7][19] - Financing revenue grew 26% to $18 million, driven by a 16% increase in volume and a 12% increase in the average commission rate [19] Market Data and Key Metrics Changes - The company noted that higher interest rates continue to impact sales force productivity, with listings taking longer to market [6] - The private client segment is particularly affected by tightened underwriting and limited lending, while larger transactions are seeing increased activity [7][8] - The company observed a notable recovery in the office market and continued demand for retail properties [29] Company Strategy and Development Direction - The company is focused on strategic investments in technology, talent acquisition, and expanding its brand despite current market disruptions [10][12] - Management emphasized the importance of recruiting experienced professionals and teams to mitigate turnover and enhance market coverage [14] - The company is exploring potential strategic acquisitions in core and adjacent business lines to drive growth [14] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding a sustained market recovery, citing strong economic fundamentals and low unemployment as positive indicators [10][11] - The company anticipates a continued recovery in transactional activity, albeit at a moderated pace until there is greater clarity on trade and tax policies [25] - Management highlighted ongoing investments in systems and talent as key to capturing growth as market conditions improve [26] Other Important Information - The company declared a semiannual dividend of $0.25 per share, totaling approximately $10 million [23] - The company repurchased nearly 174,000 shares for $5.4 million, with $66 million remaining on the current share repurchase authorization [23] Q&A Session Summary Question: Insights on client sentiment regarding different property types - Management noted consistent enthusiasm for retail properties and a bifurcated sentiment in multifamily, with larger multifamily transactions seeing more institutional capital [28][29] Question: Geographical distinctions based on recent tariff announcements - Management observed consistent trends across the country, with growth markets like Georgia, Florida, and Texas attracting investor interest due to demographic forecasts [32][33] Question: Rating of Southern California among markets - Management indicated that California is experiencing a positive recovery, with increased capital interest despite local political issues [34][35] Question: Impact of foreign investments on business - Management stated that foreign investments have not significantly impacted the commercial real estate market, with private capital remaining a small portion of total transactions [36][37] Question: Appetite for further stock repurchases - Management confirmed ongoing stock repurchases and emphasized a balanced capital allocation strategy that includes returning capital to shareholders and investing in technology [38][39]