Midwich Group (MIDW)

Sector:

Support

Index:

FTSE AIM 50

400.00p
   
  • Change Today:
      5.00p
  • 52 Week High: 521.00
  • 52 Week Low: 340.00
  • Currency: UK Pounds
  • Shares Issued: 103.25m
  • Volume: 35,699
  • Market Cap: £413.01m

Midwich restarts dividends as trading beats expectations

By Sean Farrell

Date: Monday 10 May 2021

LONDON (ShareCast) - (Sharecast News) - Midwich Group restarted dividends after trading beat forecasts and the company predicted annual profit well ahead of expectations.



The distributor of audio-visual equipment said though a number of its markets are likely to be subdued for some time, revenue rose and cash generation was strong so far in 2020. In a statement for its annual general meeting, Midwich declared a special dividend of 3p a share and said it expected to pay interim and final dividends for the year to the end of December.

Chairman Andrew Herbert said: "Despite further significant lockdowns in early 2021, trading in the first four months of the year has been ahead of the board's expectations, and significantly ahead of the comparative period last year. Should vaccine programmes continue to progress successfully in the group's key markets, the board now expects that revenue and profit for the full year will be comfortably ahead of its original expectations."

Midwich distributes products made by Sony, Samsung, Sonos and other electricals companies to commercial and educational customers in the UK and Ireland, Europe, Asia Pacific and North America. Its shares rose 7.2% to 498.55p at 10:24 BST.

The AIM-traded company posted record revenue of £711.8m for 2020 in March but adjusted pretax profit more than halved to £14.2m from £31.2m because of Covid-19 disruption. Midwich paid no dividend in 2020 to preserve cash and because it took government support, which has now ceased.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Midwich Group Market Data

Currency UK Pounds
Share Price 400.00p
Change Today 5.00p
% Change 1.27 %
52 Week High 521.00
52 Week Low 340.00
Volume 35,699
Shares Issued 103.25m
Market Cap £413.01m

Midwich Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
57.7% below the market average57.7% below the market average57.7% below the market average57.7% below the market average57.7% below the market average
10.11% below the sector average10.11% below the sector average10.11% below the sector average10.11% below the sector average10.11% below the sector average
Price Trend
32.46% below the market average32.46% below the market average32.46% below the market average32.46% below the market average32.46% below the market average
37.86% below the sector average37.86% below the sector average37.86% below the sector average37.86% below the sector average37.86% below the sector average
Income
49.49% above the market average49.49% above the market average49.49% above the market average49.49% above the market average49.49% above the market average
59.38% above the sector average59.38% above the sector average59.38% above the sector average59.38% above the sector average59.38% above the sector average
Growth
64.84% above the market average64.84% above the market average64.84% above the market average64.84% above the market average64.84% above the market average
66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average

What The Brokers Say

Strong Buy 2
Buy 2
Neutral 0
Sell 0
Strong Sell 0
Total 4
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Midwich Group Dividends

  Latest Previous
  Interim Final
Ex-Div 21-Sep-23 04-May-23
Paid 27-Oct-23 16-Jun-23
Amount 5.50p 10.50p

Trades for 19-Mar-2024

Time Volume / Share Price
11:07 125 @ 402.50p
11:05 125 @ 402.50p
10:59 10,000 @ 402.00p
10:54 1,280 @ 400.00p
10:54 1,280 @ 400.00p

Midwich Group Key Personnel

Finance Director Stephen Lamb

Top of Page