Business
Preliminary Results
Preliminary Results.
About this update from Midwich Group Plc
[{"type":"text","content":"\n \nRNS Number : 3416Z Midwich Group PLC 14 March 2017 \n\n14 March 2017\nMidwich Group Plc\n(\"Midwich\" or the \"Group\")\n \nPreliminary Results\n \nMidwich, the leading specialist audio visual and document solutions distributor to the trade market, today announces its maiden Preliminary Results for the year to 31 December 2016.\n \n\n\n\n\n\n\n\n\n\n\nYear to \n\n\n\n\n\n\n\n£000\n\n\n\n\n\n31-Dec-16\n\n\n31-Dec-15\n\n\n% change\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nRevenue\n\n\n\n\n\n370,142\n\n\n314,283\n\n\n17.8%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nGross Profit\n\n\n\n\n\n56,461\n\n\n46,961\n\n\n20.2%\n\n\n\n\nGross profit %\n\n\n\n\n\n15.3%\n\n\n14.9%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nOperating profit\n\n\n\n\n\n14,487\n\n\n12,641\n\n\n14.6%\n\n\n\n\nAdjusted operating profit (1)\n\n\n\n\n\n18,542\n\n\n15,168\n\n\n22.2%\n\n\n\n\nAdjusted operating profit %\n\n\n\n\n\n5.0%\n\n\n4.8%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nProfit before tax\n\n\n\n\n\n12,102\n\n\n8,558\n\n\n41.4%\n\n\n\n\nAdjusted profit before tax(2)\n\n\n\n\n\n17,912\n\n\n14,582\n\n\n22.8%\n\n\n\n\nAdjusted profit before tax %\n\n\n\n\n\n4.8%\n\n\n4.6%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nProfit after tax\n\n\n\n\n\n8,560\n\n\n5,812\n\n\n47.3%\n\n\n\n\nAdjusted profit after tax(2)\n\n\n\n\n\n14,365\n\n\n11,733\n\n\n22.4%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nReported EPS - pence\n\n\n\n\n\n 10.92 \n\n\n 7.14 \n\n\n52.9%\n\n\n\n\nAdjusted EPS - pence(2)\n\n\n\n\n\n 18.63 \n\n\n 15.59 \n\n\n19.5%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nDividend per Share (for 8 month period) - pence\n\n\n\n\n\n 8.62 \n\n\n-\n\n\nn/a\n\n\n\n\nNet debt\n\n\n\n\n\n14,967\n\n\n29,774\n\n\n\n\n\n\n\n \nFinancial Highlights\n· Revenue increased by 17.8% from £314.3m to £370.1 million (15.1% on a constant currency basis)\n· Gross profit margin increased by 0.4% driven by an improving product mix\n· ...