Diss headquarters drives Midwich’s £101 million revenue growth
One of Diss’ largest employers is celebrating after seeing its revenue grow by more than £100 million in the last year.
Midwich, the audio-visual, IT and document solutions specialist, based in Vince’s Road, has seen revenue grow from £370.1 million in 2016, to £471.9 million in 2017.
It follows three major acquisitions for the group during the year as well as an additional 10 staff taken on at its Diss headquarters, which has now reached capacity.
“These are strong results for the group, driven from our head office in Diss, where over the years we have built up considerable talent and expertise to roll out our global business,” said managing director, Stephen Fenby.
“Diss is a good business location and has been our base for 39 years this year, with long-serving and dedicated staff.
“The underlying business has performed very well, with significant increases in revenue while improving gross margins.
“I am also pleased with the successful integration of three earnings- enhancing acquisitions that we made in the year, all of which have contributed positively to the group result.”
Midwich Group operates in markets in the UK, Ireland, France, Australasia, Germany, Iberia and Benelux.
Last year it successfully acquired Earpro SA, Gebroeders van Domburg BV group of companies and Sound Technology Ltd.
The group has around 750 staff, who operate out of 16 offices, with a base of around 13,000 customers.
A total of 267 staff are based at the Diss headquarters, where directors have indicated it will stay, as long as infrastructure works keep pace with employment and housing growth in the town.
“We are now at capacity at Diss, including eleven vacancies at present,” added Stephen Fenby.
“Diss is important to us. It’s where we are from and we have recently been pleased to see progress made as regards the surrounding infrastructure with traffic congestion proving difficult for staff.”