Midwich Group has announced a year end trading update for the year ended 31 December 2023. The group finished the year well and the board expects to report record revenue for 2023 of c£1.3 billion, representing growth of approximately 7% over the prior year (6% at constant currency), with organic revenue in line with the prior year.
Positive product mix resulted in gross margin of c16.8%, exceeding pre-COVID levels. The board anticipates reporting adjusted profit before tax of approximately £50 million, which is in line with market expectations.
