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Midwich says trading in line, confident over outlook
AIM-listed specialist audio visual and document solutions distributor Midwich said on Monday that trading was in line with its expectations.
At the company's annual general meeting in London earlier, chairman Andrew Herbert said the group performed strongly in 2017, reporting double-digit growth in sales and profits and the successful integration of three acquisitions.
"We remain committed to our strategy of delivering strong organic growth through premium brands augmented by acquisitions that extend the group's reach and capability," Herbert said.
"Trading in the first four months of 2018 has been in line with the board's expectations and we remain confident in the outlook for the group."
Midwich said in March that revenue in the year to the end of December 2017 was up 28% to £471.9m, while adjusted pre-tax profit increased 35.7% to £24.3m, driven by "impressive" growth in the specialist audio visual and technical product categories.
At 1240 BST, the shares were up 0.2% to 669p.