UK's Midwich sees H1 revenue up on UK & Ireland growth
UK's Midwich sees H1 revenue up on UK & Ireland growth
Overview
UK audiovisual distributor expects H1 2026 revenue up 3% yr/yr to £640 mln
Adjusted pretax profit for H1 2026 seen rising 10% yr/yr to £10.6 mln
Middle East conflict weighed on results but growth in UK & Ireland offset some impact
Outlook
Midwich expects full-year results to be broadly in line with 2025
Company assumes challenging macroeconomic conditions will persist through 2026
Midwich pursuing cost efficiencies and new vendor relationships to drive future performance
Result Drivers
MIDDLE EAST IMPACT - Ongoing conflict in the Middle East significantly reduced revenue and profit, especially from live events customers
UK & IRELAND GROWTH - Revenue in UK & Ireland rose over 10% due to new vendor launches and market share gains
GERMANY WEAKNESS, IBERIA GROWTH - EMEA revenues declined 5% as soft market conditions in Germany were partly offset by growth in Iberia
Company press release: ID:nRSU1114Na
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Adjusted Revenue |
| GBP 640 mln |
|
H1 Adjusted Pretax Profit |
| GBP 10.60 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."
The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 6 three months ago
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(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.)