Midwich trading in line after record 2021 results
Specialist audio-visual distributor Midwich Group said in an update on Monday that trading in the first four months of 2022 had been in line with forecasts.
The AIM-traded firm, which was holding its annual general meeting, noted that its record revenue and adjusted profit before tax in 2021 was achieved as the professional audio-visual market remained below pre-Covid-19 levels.
Chairman Andrew Herbert said the company remained committed to its strategy of delivering strong organic growth, supplemented by targeted acquisitions, as well as building on its expertise across a broader range of markets and products.
“The board was delighted to welcome the DVS and Nimans teams to the group early in the new year, further strengthening our capabilities and presence in the UK AV market,” Herbert said.
“Trading in the first four months of the current year has been in line with the Board's expectations and we look forward with confidence.”
Midwich said it would announce a trading update for the six months ending 30 June on 19 July.
At 0848 BST, shares in Midwich Group were down 0.86% at 575p.