AGM Statement

RNS Number : 0704F

Midwich Group PLC

15 May 2017

 

15 May 2017

Midwich Group plc

("Midwich" or "the Group")

AGM Statement

Andrew Herbert, Chairman of Midwich, a specialist audio visual and document solutions distributor to the trade market with operations in the UK and Ireland, France, Germany, Spain and Australasia, will make the following statement at the Group's Annual General Meeting to be held at 10.00am today.

"I am pleased with the Group's performance in its first year as a public company. 2016 was a busy year for the business and this has continued into 2017 with the acquisition if Earpro S.A. in March. Trading remains in line with expectations and the Board is confident in the outlook for Group and looks forward to reporting on further progress in 2017."

For further information, please contact:

Midwich Group plc Stephen Fenby, Managing Director Anthony Bailey, Finance Director	Tel: [phone]
Investec Bank plc James Ireland / James Rudd Carlton Nelson / Robert Baker	Tel: [phone]
FTI Consulting Oliver Winters / Alex Beagley / George Robinson	Tel: [phone]

Notes to Editors:

Midwich is a specialist AV and document solutions distributor to the trade market, with operations in the UK and Ireland, France, Spain, Germany and Australasia. The Group's long-standing relationships with over 300 vendors, including blue-chip organisations such as Samsung, LG, Epson and NEC, supports a comprehensive product portfolio across major audio visual categories such as large format displays, projectors, digital signage and printers. The Group operates as the sole or largest in-country distributor for a number of its vendors in their respective product sets. The Directors attribute this position to the Group's technical expertise, extensive product knowledge and strong customer service offering built up over a number of years. The Group has a large and diverse base of approximately 10,000 customers, most of which are professional AV integrators and IT resellers serving sectors such as corporate, education, retail, residential and hospitality. Although the Group does not sell directly to end users, it believes that the majority of its products are used by commercial and educational establishments rather than consumers.

Initially a UK only distributor, the Group now has over 600 employees across the UK, Germany, France, Spain, Ireland, Australia and New Zealand, and in the year to 31 December 2016, 33 per cent of the Group's revenues were derived from outside the UK and Ireland. A core component of the Group's growth strategy is further expansion of its international operations and footprint into strategically targeted jurisdictions.

For further information, please visit www.midwichgroupplc.com

 

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