Midwich plc of the UK reported £471.9 million ($660.66 million) revenue for the fiscal year 2017, a 27.5% increase compared to £370.1 million ($518.14 million) reported in 2016. Profit after tax was £13.9 million ($19.46 million), a 63.3% increase compared to £8.6 million ($12.04 million) reported last year. The company said improved revenue and profit across all territories was driven by impressive growth in the specialist audio visual and technical product categories.
The Displays category is the largest technology category for the group, accounting for 43.4% of group turnover in 2017 (2016: 42.5%). It grew 30.3% (2016: 28.8%) in the year, with strong growth in France and the UK and Ireland, and particularly impressive growth in Germany. Displays is a significant product category for two of the companies acquired in the year – Earpro (Iberia) and van Domburg (Benelux), which between them accounted for 6.1% of the 30.3% growth in this category.
Projection represents 22.1% of Group turnover (2016: 23.9%) and grew 17.5% (2016: 9.4%) in the year, thanks mainly to double digit growth in Germany and France.
