(Alliance News) - Midwich Group PLC said Monday it has traded "well" in the six months to June, with full-year expectations remaining unchanged.
The audiovisual distributor said it has seen top-line organic growth in the first half, supported by "strong contributions" from recent acquisitions.
"Growth was achieved across all geographies on a constant currency basis, with Continental Europe and Asia-Pacific performing particularly well," the company added.
Midwich also said gross margins improved in the period versus the year before.
The company continued: "The group continues to invest in the infrastructure to develop its business, in particular, the central acquisition and integration teams, as well as its start-up businesses in South East Asia and Benelux. The group has acquired four businesses in the year to date and all are developing as expected."
Midwich said the recent acquisitions have expanded the company's geographical territory to include Italy, Switzerland and Norway.
The company said cash generation in the first half was "slightly ahead" of its own expectations.
"The board continues to expect cash generation for the current year as a whole to be in line with the group's long-term average performance," Midwich added.
Shares in Midwich were flat on Monday morning at 550.00 pence each.
Midwich Group (MIDW)