A Norfolk firm has increased its profits this year despite challenging economic conditions.

Midwich, which supplies audio visual products to the trade market worldwide, has reported a 7.4pc growth in revenue, taking its total for 2023 to £610.4m.

Its gross profit for the year increased by 17.5pc to £99.6m.

It said part of its success had been due to its strong presence in the live event and entertainment sectors.

In June, the company, based in Diss, continued its growth with the acquisition of SFM, a specialist audio-visual distributor in Canada, adding 1,500 new customers.

Stephen Fenby, managing director, said: “Although general macro-economic conditions are widely expected to remain challenging over the coming months, the Group continues to be well placed to identify and benefit from organic and inorganic business development opportunities.

“I believe our demonstrable track record of performing well despite challenging broader economic conditions is a testament to the quality of our business.

“Furthermore, our order books remain strong and as a result the board’s expectations for the full year remain unchanged.”