Positive updates | Strange share price moves
Results and updates covered here suggest all is well for these fast-growing AIM companies, with several reporting full year results ahead of previous expectations.
Midwich: ahead, but…. Midwich Group (AIM: MIDW), the specialist audio visual distributor to the trade market, updated on trading for the year ended 31 December 2022. Revenue for 2022 is now anticipated to £1.2 billion, up 40% over the prior year with organic growth of over 20%. The gross margin was broadly in line with 2021 levels. As a result of the strong performance, the Board now anticipates reporting adjusted profit before tax for 2022 comfortably ahead of consensus expectations, which were £40.8m. Adjusted net debt at the end of the year was under £100m, representing approximately 1.7 times adjusted…