Strong trading helps lift adjusted profit at Midwich

(Sharecast News) - Midwich said on Tuesday that first-half revenue rose around 3% to approximately £640m, while adjusted profit before tax increased about 10% to £10.6m. Excluding its Middle East operations and businesses it exited, adjusted profit grew 20%, as strong trading in the UK, Ireland and the US helped offset disruption from the conflict in the Middle East and continued weakness in Germany.

Adjusted net debt increased by £12m from the year end to £138m due to seasonal working-capital movements, with leverage improving to 2.3 times from 2.5 times a year earlier.

The AIM-traded audio-visual distributor said full-year results were expected to be broadly in line with 2025, although the outlook remained dependent on the duration of the Middle East conflict and continued momentum elsewhere in the group.

At 1149 BST, shares in Midwich Group were up 9.33% at 140.6p.

Reporting by Josh White for Sharecast.com.

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