Updates

Midwich

May 2017

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 has acquired Earpro SA, a distributor of audio and video brands (including Shure and those under the Harman umbrella) and marks Midwich’s entry into the Spanish and Portuguese marketsIt generated sales of €21m in 2016, which was up 7% on 2015. Midwich is paying up to €11m including earn outs for the business, which comes with a net cash balance of approximately €3.2m. No profit figures were given but typically Midwich has paid 4x ebitda.We wrote about Midwich at 222.5p in the December issue. The company now boasts a ten-year unbroken track record of growth with revenues having tripled to reach £370m in FY16 (11% compound), helped by 13 acquisitions. The latest deal ensures continuation of th ...

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SuperGroup - Forecast eps of 94.3p and 105.7p

Innovaderma - All time record quarter

Midwich (February 2020)

Midwich (August 2018)

Midwich (March 2018)

Midwich - Another eps upgrade (September 2017)

Midwich (February 2017)

Midwich - Excellent position in audio visual and document solutions (December 2016)

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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