14th May 2018 11:35
LONDON (Alliance News) - Audio visual and document solutions distributor Midwich Group PLC said Monday that trading for the first quarter of 2018 was in line with the board's expectations.
At its annual general meeting the company's Chairman Andrew Herbert said the group performed strongly in 2017 with double digit growth in sales and profits.
At the end of the 2017 financial year, Midwich reported a 56% growth in pretax profit to GBP18.9 million. The group's revenue grew 28% to GBP471.9 million.
"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. 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," Herbert added.
Shares in Midwich were 3.3% lower at 645.30 pence.
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