Shares in Midwich Group Plc (LON:MIDW) flew higher on Friday after an upbeat trading statement from the supplier of display technologies to trade shows.
The board said that after an “encouraging first-half performance”, it now expects the group will surpass the board's previous full-year expectations.
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The group said it traded well in the first half, with good top line growth delivered across all of its geographies on a constant currency basis.
Overall gross margins improved, helped by the contribution of the three businesses it acquired in 2017.
Cash generation in the first half of the year was a bit behind the board's expectations owing to an investment in working capital; the board continues to expect cash generation for the current year as a whole to be in line with the group's long-term average performance.
Shares in Midwich were up 5.7% at 700p.