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Midwich trading in line as acquisitions develop

By Duncan Ferris

Date: Monday 22 Jul 2019

Midwich trading in line as acquisitions develop

(Sharecast News) - Midwich Group reported that its revenues and margins grew in the first half of the year after recent acquisitions made strong contributions on Monday, though its full-year expectations remained unchanged.
The specialist audio visual distributor said growth was achieved across all geographies on a constant currency basis for the six months ended 30 June, with Continental Europe and the Asia Pacific region performing particularly well following investment in start-up businesses in South East Asia.

Four acquisitions made in the year-to-date were developing as expected, with the new businesses having given the AIM-traded company access to trading in Italy, Switzerland and Norway, as well as strengthening its capabilities in the audio and lighting segments.

Cash generation in the first half was slightly ahead of expectations, but was expected to be in line with forecasts over the full year.

Midwich Group's shares were up 0.73% at 554.00p at 1559 BST.

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