Redington shares nosedive 5% as Middle East war disrupts operations of Gulf subsidiary

Redington share price dropped 5% as its Gulf operations face restrictions due to regional conflict. Shipments are rerouted, ports and airspace are closed, leading to longer transit times. Working capital needs have risen due to higher inventory and extended payment terms. Freight and insurance costs are up. The company is assessing the financial impact, which depends on the conflict's duration.