Midwich Group saw growth everywhere in the world other than the UK.
The Norfolk-based distributor saw revenues decline slightly by 2.2 per cent to £234 million in the UK & Ireland.
Based on independent market data, Midwich believes the decline is significantly less than the overall decline in the region.
Revenues for the six months ended 30 June 2023 grew 7.4 per cent to £610.4 million.
Gross profit was up 17.5 per cent to £99.6 million in H1 2023.
Revenue growth was strong in EMEA, up 13.5 per cent to £281.3 million, alongside significant gains in North America (23.9 per cent to £69.9 million).
Midwich MD Stephen Fenby said that the EMEA region performed particularly well, with strong improvements in organic revenue, gross margin and adjusted operating profit.
“Although general macroeconomic conditions are widely expected to remain challenging over the coming months, the group continues to be well placed to identify and benefit from organic and inorganic business development opportunities.
“I believe our demonstrable track record of performing well despite challenging broader economic conditions is a testament to the quality of our business and our ability to grow market share profitably.”
