Diss-based Midwich soars past £1 billion in revenue in record year

Diss-based audio-visual giant Midwich has shattered its revenue records by breaching the billion-pound barrier for the first time in its history.

The company, which has its headquarters in Vince’s Road, posted its official figures this week for the year up to December 2022, which were in line with forecasts.

Revenue rose by 40.7 per cent, with total revenue rising from £856 million to £1.2 billion, with two new acquisitions having helped the company’s growth.

Managing director Stephen Fenby said: “We are 10 per cent up on what we expected. We have had some decent sized acquisitions, which have been an important part of our performance, and we are working on new acquisitions as well.

“Covid challenges have dissipated and, while we may have the odd product shortage, things have mostly normalised.

“We have a great team, we’ve been able to move in to new areas, including the US market a few years ago. We’ve been able to strengthen our specialist product capabilities, too.”

The company’s Diss office employs around 285 people, up from 270 last year, and its HQ will remain an important part of the town’s business landscape in the years ahead.

“We have great capacity here and I certainly can’t see any reason why we would think about moving from Diss,” said Mr Fenby (pictured).

“In terms of looking ahead to targets, we can’t be too specific, but we are represented in some big territories now, which helps with organic growth, and we’re certainly optimistic.

“We sell products but we are also a service business. Great service needs great people, and we have a fantastic team who have been pulling out the stops for us.”