LONDON (Alliance News) - discoverIE Group PLC on Tuesday reported a double digit increase in both its annual revenue and profit.
For the year ended March 31, the electronics designer and supplier posted a 32% rise in pretax profit to GBP19.3 million from GBP14.6 million a year prior. Revenue increased 13% to GBP438.9 million from GBP387.9 million.
"This year has seen an excellent group performance with strong organic growth complemented by the contribution from acquisitions, resulting in 22% growth in underlying earnings per share," Chief Executive Officer Nick Jefferies said.
The company upped its annual dividend by 6% to 9.55 pence per share from 9.0p paid to shareholders a year ago.
Looking ahead, the company said the new financial year has started well, on the back of a "record" order book of GBP139 million at the end of financial 2019.
"With a record year end order book and a high level of design wins, we are well positioned for continued progress and excited by the opportunities that lie ahead as we continue to build a high-quality, global business," Jefferies concluded.
discoverIE Group shares were trading 1.1% at 424.45 pence each.
DiscoverIE (DSCV)