Midwich: 'We're staying put'

Audio-Visual specialist Midwich has reaffirmed its commitment to retaining its headquarters in Diss as its march on Europe continues.

Managing director Stephen Fenby made his comments on Tuesday after the company, based in Vinces Road, announced double-digit growth for the six months to June 30 this year.

The company reported a 25 per cent increase in revenue to £264 million, with adjusted profit before tax up 27 per cent to £13 million. Interim dividend per share was also up 10 per cent.

These figures follow a takeover last year of Ear Pro in Barcelona, Van Domburg Partners in the Netherlands and Sound Technology in the UK. In the past month, the company announced takeovers of New Media in Germany and Perfect Sound in Switzerland.

Midwich employs around 800 staff across the UK, Ireland, Europe and Australasia, including around 270 in its Diss head office, which is approaching capacity. It also plans further expansion in Italy, Poland and Scandinavia.

Mr Fenby said: “It is a very exciting time for the company. We started expanding the business overseas about nine years ago and we have grown our international business strongly, and the company has grown very significantly.

“We floated on the stock market two years ago and we’ve accelerated our acquisition programme. The organic growth has been strong, and we are in a strong place, very positive about the future and future opportunities, and all based out of Diss, which is a fantastic story.

“Diss is still our head office and we have absolutely no plans on changing that.

“We have been building our central group office team here, which helps with acquisitions, integration, compliance and regulatory work and that team has been building in Diss in the last two years, particularly.

“I am very positive about the town’s contribution. There is a good pool of people, a good local workforce; most of our people come from the local area, and within a 10-mile radius.

“There is no one secret to our growth, it is about wanting to be successful, planning to be successful, and delivering good service consistently. The core of our business is in Diss and the people here have been the driving force.”