Published on March 15th, 2019 | by The GC Team0
Midwich reports lift in full-year revenue and profit
AV distributor Midwich has reported a pre-tax profit of £21.1 million for the year to 31st December 2018, up 11.5% on the previous year.
Revenue increased by 21.6% to £573.7 million (21.4% on constant currency basis) including organic growth of 8.7%.
Growth in technical products was up 54.7%, assisted by three acquisitions during the year, and now represents over 26% of Group turnover. Strong growth was also recorded in core Displays, which increased by 23.7% as a category across the Group
Managing Director Stephen Fenby said: “The Board is continuing to pursue its established strategy and is pleased with the progress made during 2018. Trading in the first two months of 2019 has built on the good growth we saw last year, giving the Board confidence in delivering a 2019 performance in line with its existing expectations.”