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Kalkine Media ASX Share Market News & Research

Midwich Group Plc (LON: MIDW) in discussion for the acquisition of NMK Group

December 12, 2020 01:43 PM GMT | By Team Kalkine Media
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Midwich Group Plc (LON:MIDW) is in advanced discussions with Nicolas M. Kyvernitis Electronics Ent., NMK Middle East FZE and Edge Electronics Trading LLC, around the potential acquisition of all or part of the NMK Group.

  • The NMK Group which includes Nicolas M. Kyvernitis Electronics Ent., Edge Electronics Trading LLC and NMK Middle East FZE is a value-added supplier of AV products in the Mid-East market.
  • The NMK Group, in the pre-Covid year ended 31 December 2019, had generated revenues of around AED104 million equivalent to £21.6 million.
  • The company had posted the net profit of AED17.9 million as compared to £3.7 million of the previous year.
  • As at 31 December 2019, the net assets of the company were AED73.5 million much higher than £14.8 million of the last year.

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