Midwich of Diss expecting 18 per cent growth after strong performance overseas

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Specialist technology distributor Midwich Ltd, one of the major employers in Diss, is anticipating pre-tax profits “comfortably ahead of its previous expectations”, following a strong performance last year.

The company, which has its headquarters located in Vinces Road, said it was expecting to report revenue for 2016 of approximately £370 million, representing growth of around 18 per cent over the previous year.

In a pre-closing trade statement, the firm cited healthy trade momentum for the second half of 2016 as the main factor for these figures, as a result of growth across all of its divisions, particularly its overseas businesses.

It also claimed to have benefited from the continued weakness in the pound, as well as a better than expected contribution from its most recent UK acquisition, Holdan.

Midwich will announce its official figures on March 14.