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  2. Share Prices
  3. DiscoverIE Share Price
  4. DiscoverIE Share News
  5. REPEAT: discoverIE buys manufacturer CDT Group for GBP5 million

Pin to quick picksDiscoverIE Share News (DSCV)

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Share Price Information for DiscoverIE (DSCV)

London Stock Exchange
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Share Price: 754.00
Bid: 754.00
Ask: 758.00
Change: 26.00 (3.57%)
Spread: 4.00 (0.531%)
Open: 762.00
High: 762.00
Low: 728.00
Prev. Close: 728.00
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REPEAT: discoverIE buys manufacturer CDT Group for GBP5 million

Wed, 06th Jul 2022 08:47

discoverIE Group PLC - Surrey-based maker of customised electronic - Buys Northamptonshire-based designer & manufacturer of customised plastic enclosures CDT Group for GBP5.0 million on a debt free, cash free basis. discoverIE says the acquisition will be "immediately enhancing to group underlying earnings". CDT has reported revenue of GBP2.9 million for year ended on December 21, with an underlying operating margin of 28% and and underlying operating profit of GBP800,000.

discoverIE Group Chief Executive Nick Jefferies says: "The acquisition of the CDT group continues our strategy of building a high quality, higher margin international group that designs and manufactures customised electronics. CDT will be integrated with our existing Contour business enabling more complex and integrated designs as well as providing CDT with access to our wider base of customers and with it, new sales opportunities."

Current stock price: 666.00 pence, up 6.1%

12-month change: down 33%

By Xindi Wei; xindiwei@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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