After its acquisition of Nimans and DVS this year, distie Midwich saw its revenues in the UK and Ireland grew by 85 percent year on year during the six months until 30 June.
Midwich snapped up Nimans for £27.5 million in February this year. The distributor turned over £114.3 million in revenues and pre-tax profits of £5.8 million for calendar 2020.
The group’s organic revenue grew 27 percent year on year, which the company attributes to acquiring Nimans and DVS.
The overall gross margin was stated to be approximately 15 percent, which Midwich says is largely equivalent to H1 2021. The group’s board expects stronger gross margins to be in sight for H2 as more live and face-to-face events return in a number of the markets Midwich services.
