This week’s Midwich Technology Exposed event held at Mercedes-Benz World is expecting over 1,000 attendees to its two day annual reseller and end-user event.
Midwich has had some year, launching onto the AIM market stock market in May, two major acquisitions, along with strong initial Interim Results.
Last week, Midwich announced a strong set of maiden Interim Results as a public company, with revenues rising 12 per cent for the six-months endedJune 30, 2016 to GBP 158.4m (six-months ended June 30, 2015: £141.3m), with adjusted operating profit up 23 per cent to GBP 7.9m, compared to the same period last year.
The results, for the six-months ended June 30, 2016, also saw particularly encouraging growth outside the UK, with France growing 43 per cent and Germany 23 per cent. UK and Ireland sales grew seven per cent.
Andrew Herbert, Midwich Chairman, said: “We are pleased with performance over the first six months of the year, and in particular the continuing progress of the Group following the successful IPO in May. Sales increased in all territories, with particularly encouraging growth outside the UK.”
“The Board remains positive about the financial and operational prospects of the Group. Traditionally, the Group’s financial performance tends to be slightly weighted towards the second half of the year, which we anticipate will be the case in the current year. Whilst it is still very early days, the uncertainties that have followed the Brexit vote so far appear to have had minimal impact on our business.”
Also announced this week is a new partnership with Leyard which will enhance the PSCo LED display offer (PSCo is the specialist LED subsidiary of Midwich) and will for the fist time bring Leyard products to the UK market. With Leyard on board, PSCo now claims to offer the largest UK portfolio of narrow pixel-pitch (NPP) LED available for both sales and rental.
Stuart Holmes, Director of PSCo said “In 2016 we have seen interest in narrow pixel pitch LED intensifying at the higher-resolution end of the market, with increased demand from rental and sales partners wanting support with projects for 1mm and 2mm displays.
“We have seen specific success launching front installation and front service narrow pixel pitch LED into the retail vertical, with specific success in rolling out of 4mm LED into high street retailers, and European roll out of 2mm and 4mm LED into leading cosmetic brands high street stores and concessions, through key trade partners. Bezel-less displays, such as those from Absen and Samsung, are gradually becoming more cost effective to own, and are also currently driving this market.”
Midwich’s interactive display division has also seen significant activity in 2016, especially with a boost resulting from the integration of SMART Technologies into the Midwich portfolio.
About Midwich
Midwich is the UK’s leading trade-only distributor of technology solutions with more than 35 years of experience in the AV and IT channels. Distributing solutions in audiovisual, consumer electronics, document management, Midwich is adept at developing sound commercial propositions for its vendor partners and prides itself on being first to market with value added opportunities for its reseller partners.
The Midwich Group is a family of UK, European and Australian distributors with expertise in AV, IT, consumer electronics, accessibility and security. With highly trained sales teams and award-winning aftersales service, the Midwich Group is renowned throughout the industry for its professional distribution of complete solutions from many of the world’s leading electronics manufacturers.
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