StockMarketWire.com - Midwich Group anticipates reporting adjusted profit before tax for 2016 comfortably ahead of its previous expectations.

The specialist audio visual and document solutions distributor to the trade market said its trading momentum continued in H2 and benefited from the continued weakness in sterling.

"Growth was seen across all of the Group's divisions, in particular its overseas businesses, and it has seen a better than expected contribution from its most recent UK acquisition, Holdan," the company added.

"Consequently, the Board now expects to report revenue for 2016 of approximately £370 million, representing growth of around 18% over prior year.

"Movements in exchange rates account for approximately 3% of this growth. The Group has delivered this revenue growth and continued to improve gross margins in line with the Board's expectations.

"As a result of this strong performance, the Board now anticipates reporting adjusted profit before tax for 2016 comfortably ahead of its previous expectations."

Midwich announces its final results on 14 March 2017.






Story provided by StockMarketWire.com