12:07 AM, July 21 2017
Midwich Group Plc. gained by over 16% on the London stock exchange, post the company announced its pre close trading update. As per the management, The Company has traded well in the first half, and good growth in topline has been seen across all the geographies on constant currency basis. This underlying revenue growth has been delivered whilst maintaining overall gross margins in line with those reported for 2016. The Board is also pleased to note that the new Spanish business, Earpro, acquired in March 2017, has had a very positive start contributing ahead of previous expectations in its first three months. Also, the cash generation is also in line with the expectations of the management
On account of the strong performance in the first half, the board is confident of reporting its full year results ahead of the expectations. The company would be announcing its half year results for the six months ended 30 June 2017 on 12 September 2017.