Midwich ( (GB:MIDW) ) has issued an announcement.
Midwich Group PLC reported record revenue and gross margins for the fiscal year 2024, despite challenging market conditions. The company’s strategic focus on higher-margin product areas and strong performance in North America contributed to this success. However, operating profit and profit before tax saw declines due to subdued investment in key markets and price erosion in mainstream products. The Group completed four small acquisitions and achieved significant cost savings, reflecting resilience and strategic adaptability. Looking forward, Midwich anticipates challenges from continued price deflation but remains optimistic about leveraging its global scale for future growth.
More about Midwich
Midwich Group is a global specialist in audiovisual (AV) technology distribution, partnering with leading technology companies to accelerate growth. Operating in over 50 countries from 23 locations, the Group offers a range of services from product distribution to complex system design, catering to sectors such as education, corporate, retail, and live events. With a diverse customer base of over 24,000, Midwich is committed to sustainability and responsible employment.
YTD Price Performance: -22.26%
Average Trading Volume: 201,699
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £239.2M
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