Updates

Midwich

February 2020

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Midwich, the specialist AV distributor, has said that following strong trading through the first three quarters of the year, it has seen a bit of a slowdown in demand in recent weeks in both the UK and across key territories in Continental Europe. Four acquisitions have been made in the year and it has also seen mid single digit organic growth. However there have been fewer larger projects, which in turn has held back progress in gross margins. Management now expects FY19 pretax profit of £30-31m vs a previous market consensus of £33.8m. Investec has cut its eps forecast to 28p for the year ended with 31.2p this year.Tipped in December 16 at 222.5p, I am inclined to take profits. Sell; gain 145%. ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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