Midwich H1 revenue rises on growth in UK, US markets
Midwich H1 revenue rises on growth in UK, US markets
Overview
UK audio visual distributor's H1 revenue rose 3.2% on strong UK and US growth
Adjusted profit before tax up 10.3%, with adjusted EPS rising 13.7%
Company maintains full-year outlook despite Middle East and German market challenges
Outlook
Midwich expects full-year adjusted profit before tax to be in line with expectations
Company says macroeconomic conditions are expected to remain challenging for the rest of 2026
Midwich says the second half has started solidly despite ongoing Middle East volatility
Result Drivers
REGIONAL PERFORMANCE - Strong organic growth in UK, US, and Iberia offset declines in Middle East and Germany
PRODUCT MIX - Over 30% revenue growth in unified communications products, with professional audio, drones, and networking also showing strong double-digit growth
MARGIN PRESSURE - Gross profit margin declined due to lower volumes in higher-margin Middle East business and changes in product mix
Company press release: ID:nRSV6615Va
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Net Income |
| GBP 3.60 mln |
|
H1 Adjusted Gross Profit |
| GBP 111.10 mln |
|
H1 EBIT |
| GBP 10.30 mln |
|
H1 Pretax Profit |
| GBP 4.30 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the office equipment peer group is "buy."
Wall Street's median 12-month price target for Midwich Group PLC is GBp328.50, about 123.5% above its September 21 closing price of GBp147.00
The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 6 three months ago
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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)