AGM Statement

RNS Number : 7069Y

Midwich Group PLC

13 May 2019

 

13 May 2019

Midwich Group plc

("Midwich" or "the Group")

AGM Statement

Midwich, a specialist audio visual distributor to the trade market with operations across the UK and Ireland, Continental Europe and Asia Pacific, will hold its Annual General Meeting at 10.00am today at the offices of Mills & Reeve LLP, 24 Monument Street, London, EC3R 8AJ.

At the meeting Andrew Herbert, Chairman, will make the following statement:

"The Group delivered a strong performance in 2018, achieving revenue and profit growth across all our businesses and regions. We remain committed to our established strategy of delivering strong organic growth, supplemented by targeted acquisitions, as well as building our expertise in a broader range of markets and products. Trading in the first four months of the year has been in line with the Board's expectations and we look forward with confidence."

For further information:

Midwich Group plc Stephen Fenby, Managing Director Stephen Lamb, Finance Director	Tel: [phone]
Investec Bank plc (NOMAD and Joint Broker to Midwich) James Rudd Carlton Nelson	Tel: [phone]
Berenberg (Joint Broker to Midwich) Ben Wright Mark Whitmore Laure Fine	Tel: [phone]
FTI Consulting Alex Beagley Tom Hufton Fern Duncan	Tel: [phone]

About Midwich Group

Midwich is a specialist AV distributor to the trade market, with operations in the UK and Ireland, Continental Europe and Asia Pacific. The Group's long-standing relationships with over 400 vendors, including blue-chip organisations, support a comprehensive product portfolio across major audio visual categories such as large format displays, projectors, digital signage and professional audio. 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 over 17,000 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 900 employees across the UK and Ireland, Continental Europe and Asia Pacific. 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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