UK's Midwich Group plunges to nearly 8-year low on downbeat FY forecast

Midwich

21/10/2024 08:28

** Midwich Group  MIDWM.L  plunges as much as 15.6% to 270p,
lowest since January 2017
    ** Stock among top pct losers across all London shares
    ** UK-based audio-visual products distributor sees adjusted
operating profit for 2024 to be "significantly" below prior year
    ** Flags deterioration in Germany, with subdued demand in
education and corporate markets
    ** Sees current market challenges persisting for at least
rest of year
    ** Stock down ~25% so far this year, as of last close

 (Reporting by Prerna Bedi in Bengaluru)
 ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))