Midwich cuts total dividend by 60% after swing to loss in 2025

(Alliance News) - Midwich Group PLC shares rose on Tuesday, despite the firm announcing that it swung to a statutory pretax loss despite relatively stable revenue last year, blaming a challenging environment but saying it is "in a strong position" for the future.

The Norfolk, England-based audiovisual technology company reported revenue of GBP1.30 billion in 2025, down 1.9% from GBP1.32 billion the previous year.

It also swung to a GBP30.5 million loss last year from a GBP22.3 million profit in 2024, as it faced "exceptional restructuring charges during the year," which included a GBP27.0 million impairment on its enterprise resource planning system.

On an adjusted basis, pretax profit was down 22% year-on-year to GBP30.5 million from GBP39.1 million.

Gross profit shrank by 2.7% year-on-year to GBP228.0 million from GBP234.3 million in 2024, with gross margin inching down by a tenth of a per cent to 17.7%.

Midwich proposed a final dividend of 3.5 pence per share, down 53% from 7.5p in 2024, bringing the total dividend down 60% to 5.25p per share from 13p in 2024.

However, Midwich shares were up 3.8% to 164.00 pence each on Tuesday afternoon in London.

The company said in its outlook that "after two years of challenging market conditions, we have a working assumption that there will be little improvement in 2026", but added that it is well-positioned to take advantage of an upturn in demand.

Chief Executive Stephen Fenby said: "Against a backdrop of challenging macroeconomic and industry conditions, we determined that 2025 was a year focused on driving efficiencies and continuing to strengthen our market positioning."

He added: "Our relative performance in a challenging environment continues to highlight the fundamental strength of the business and we remain committed to supporting our customer and vendor partners for our mutual benefit.

"New business lines and vendor relationships combined with reshaping the business and tight cost control have put us in a strong position for 2026 and beyond."

By Martin Miraglia, Alliance News reporter

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