Less Ads, More Data, More Tools Register for FREE

Pin to quick picksDiscoverIE Share News (DSCV)

Share Price Information for DiscoverIE (DSCV)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 676.00
Bid: 675.00
Ask: 684.00
Change: -15.00 (-2.17%)
Spread: 9.00 (1.333%)
Open: 683.00
High: 698.00
Low: 674.00
Prev. Close: 691.00
DSCV Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

discoverIE annual profit and revenue up despite inflationary headwinds

Wed, 07th Jun 2023 08:29

(Alliance News) - discoverIE Group PLC on Wednesday reported an increase in yearly profit and revenue, with the company maintaining an optimistic outlook in the face of inflation pressure.

Shares in discoverIE were up 3.3% to 823.00 pence in London on Wednesday morning, among the best FTSE 250-listed performers.

The Surrey-based maker of customised electronics reported a pretax profit of GBP29.1 million in the year ended March 31, up 70% from the previous year's GBP17.1 million.

"The group continues to manage supply chain and inflationary headwinds effectively with gross margins in the year being robust and slightly ahead of last year on an organic basis," the firm said.

Revenue climbed 18% to GBP448.9 million from GBP379.2 million in the prior year. Organic sales alone rose 10% to GBP434.0 million from GBP395.1 million.

The company said its order book stood at GBP223 million, down marginally from GBP224 million the year prior.

discoverIE declared a final year dividend per share of 7.9 pence, up 6.0% from 7.45p the previous year. This brings the full-year dividend to 11.45 pence per share, also up 6.0% from 10.8 pence the prior year

Looking forward, the company said its order book remained at a higher than expected level, providing visibility of strong demand.

However, it noted that the macroeconomic risks and supply chain disturbances had increased during the financial year.

"We continue to focus on generating organic growth in high momentum, sustainable markets, enhanced by earnings-accretive acquisitions whilst reducing our carbon footprint," said Chief Executive Nick Jeffries.

"The discoverIE business model has proven to be very resilient through difficult market conditions. With a strong pipeline of acquisition opportunities and a robust balance sheet, the group is well positioned to make further good progress."

By Will Neill, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
8 Feb 2019 14:38

Director dealings: DiscoverIE CEO lowers stake

(Sharecast News) - DiscoverIE chief executive Nicholas Jefferies disposed of 6,683 ordinary shares in the London-listed customised electronics outfit.

Read more
24 Jan 2019 15:58

UK Earnings, Trading Statements Calendar - Next 7 Days

Friday 25 January BonmarcheTrading Statement AG BarrTrading GroupQ3 Smaller

Read more
4 Dec 2018 11:29

discoverIE Reports Interim Revenue Growth But Profit Down On Costs

LONDON (Alliance News) - discoverIE Group PLC on Tuesday said its revenue rose in the first half of its current financial year, but profit slipped on higher operating expenses.The supplier

Read more
27 Nov 2018 16:04

UK Earnings, Trading Statements Calendar - Next 7 Days

Wednesday 28 November RPC GroupHalf Year ResultsTen LifestyleFull Year Year Year Year the

Read more
17 Oct 2018 12:16

discoverIE Acquires Cursor Controls To Accelerate International Growth

LONDON (Alliance News) - Customised electronics supplier discoverIE Group PLC on Wednesday said it acquired Cursor Controls Group for GBP19.0 million via the purchase of its holding company 737 it

Read more
17 Oct 2018 08:53

DiscoverIE acquires human-to-machine manufacturer Cursor Controls

(Sharecast News) - Customised electronics outfit DiscoverIE acquired Cursor Controls on Wednesday for an initial cash consideration of £19m, rising to a possible £23m.

Read more
11 Oct 2018 12:34

DiscoverIE turns in solid performance from design and manufacturing unit

(Sharecast News) - DiscoverIE saw some strong trading throughout the second quarter of the year, telling investors on Thursday that it remained on track to deliver full-year earnings in line with its expectations.

Read more
10 Oct 2018 12:47

Wednesday broker round-up

(Sharecast News) - RWS Holdings: Numis downgrades to add with a target price of 510p.

Read more
4 Oct 2018 16:00

UK Earnings, Trading Statements Calendar - Next 7 Days

Friday 5 October Motorpoint GroupTrading Statement Monday 8 GroupTrading of

Read more
26 Jul 2018 14:10

DiscoverIE Orders Reach Record High, On Track To Meet Expectations

LONDON (Alliance News) - Electrical component manufacturer DiscoverIE Group PLC said Thursday the momentum from its first quarter means it is on track to deliver its full-year sales in the period

Read more
19 Jul 2018 16:21

UK Shareholder Meetings Calendar - Next 7 Days

Friday 20 JulyHomeserveKCOM GroupMonday 23 JulyEthernity Energy 24

Read more
19 Jul 2018 16:19

UK Earnings, Trading Statements Calendar - Next 7 Days

Friday 20 July Acacia MiningHalf Year Results BeazleyHalf Year GroupTrading

Read more
29 May 2018 16:03

UK Earnings, Trading Statements Calendar - Next 7 Days

Wednesday 30 May Telford HomesFull Year ResultsDe La RueFull Year MetricsHalf 31

Read more
19 Apr 2018 13:43

discoverIE Expecting Good Profit Growth With Order Book At Record High

LONDON (Alliance News) - discoverIE Group PLC said Thursday that trading since January has gone well, with profit expected to grow strongly in its recently ended financial year.The posted a

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.