Midwich Group (MIDW)

Sector:

Support

Index:

FTSE AIM 50

 395.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 521.00
  • 52 Week Low: 340.00
  • Currency: UK Pounds
  • Shares Issued: 103.25m
  • Volume: 0
  • Market Cap: £407.84m

Midwich flags forecast-beating profits after bumper 2021

By Josh White

Date: Wednesday 19 Jan 2022

LONDON (ShareCast) - (Sharecast News) - Audio-visual trade distributor Midwich said in a trading update on Wednesday that it finished 2021 "strongly", with the company now expecting to report revenue of more than £850m, representing growth of about 20% year-on-year.
The AIM-traded firm said its gross margin improved in line with the board's expectations.

Adjusted net debt at year-end on 31 December totalled about £57m, or around 1.5x adjusted EBITDA, which was also in line with the director's forecasts.

As a result of the strong performance, Midwich said it now anticipated reporting adjusted profit before tax of at least £31.5m for 2021, ahead of previous expectations.

"2021 was a very successful year for the group, despite continued market challenges caused by the pandemic," said group managing director Stephen Fenby.

"Coming into the year, our ambitious goal was to return the group's profitability back to pre-Covid-19 levels.

"We achieved this, finishing the year with the highest revenues and net profit in the group's history."

Fenby said that since joining the group in 2021, the NMK, eLink and Intro 2020 acquisitions had performed well, with the company also looking forward to working with its new colleagues at DVS, which joined the group in early January.

"In 2022, the group's focus will be on maintaining a strong growth trajectory whilst supporting customers through ongoing widespread product shortages, exploring cross-selling opportunities in the current portfolio and also evaluating the healthy pipeline of potential acquisitions."

At 1025 GMT, shares in Midwich Group were up 4.93% at 656.88p.

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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 395.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 521.00
52 Week Low 340.00
Volume 0
Shares Issued 103.25m
Market Cap £407.84m

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 --2024

Time Volume / Share Price
0 @ 0.000p

Midwich Group Key Personnel

Finance Director Stephen Lamb

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