Midwich on-track for £570m revenue mark
PUBLISHED: 14:59 23 January 2019 | UPDATED: 15:39 23 January 2019
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Midwich, a specialist audio visual distributor, has posted a trading update reporting growth across all of the group's divisions.
Consequently, the board of the Diss-based company expects to report revenue for 2018 in excess of £570m, representing growth of approximately 20% over the prior year.
Stephen Fenby, the group managing director, said: “2018 was another year of good growth for Midwich, with strong organic performances from the group’s existing businesses and significant full year contributions from the acquisitions made in 2017.
“In addition, we have been pleased with the integration of the three businesses acquired during 2018 which are all trading in line with or ahead of management’s expectations.
“Post the year end, we acquired MobilePro AG, a leading AV distributor based in Zurich, Switzerland. This new territory further expands the group’s geographical reach.”
He added:“Through 2019, management will continue to explore cross-selling opportunities in the current portfolio while also evaluating the healthy pipeline of potential acquisitions both in the group’s existing markets and in new territories.”