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22 Jan 2019 | 09:17

Midwich sees slight profit beat after revenue jumps 20%

Midwich, a specialist audio visual distributor to the trade market, said it expected to post an annual profit 'slightly ahead' of previous expectations amid an around 20% rise in annual revenue.

Revenue for the year through December was expected to be in excess of £570m, the company said.

Trading momentum had continued in the second half, with 'encouraging growth' seen across all divisions.

'Additionally, all of the acquisitions made in 2017 performed either in line with or ahead of the board's expectations and continue to benefit from being part of the group,' Midwich said.

Gross margins, meanwhile, had continued to improve.

At 9:17am: (LON:MIDW) Midwich Group Plc share price was +15p at 565p

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