A trading update for Midwich Group for the six months ending 30 June 2025 has shown revenue is approximately £620 million (€716m), a 4.3% decrease of approx £28m (€32) versus the same period in 2024. The report states global market conditions "remain challenging".
Midwich did see a return to growth in the UK & Ireland which grew approximately 5% versus H1 2024, as a result of new vendor launches and market share gains. UK&I represents approximately 40% of group revenue.
Revenue in EMEA, which reduced by approximately 7.3% vs H1 2024 on a constant currency basis, was impacted by significant softness in the German corporate end user market and, particularly, major delays to purchase decisions in education ahead of new federal funding being made available later in 2025.
Outside of Germany (which represents around one third contribution for the EMEA region), Midwich saw revenue growth of approximately 3% in the rest of EMEA, reflecting stronger demand for more technical, higher margin, product categories.
Midwich’s North American business saw revenues decline approximately 8.5% on a constant currency basis, resulting from tariff uncertainty and the planned transition to new technical vendors. As trade negotiations are finalised, and new vendors come on stream, Midwich expects to see this region return to growth and deliver strong profitability over the medium term.
Overall, the Group delivered a gross margin of approximately 17.7% (H1 2024: 18.0%*), which reflected the continued focus on higher margin technical product categories.