Discoverie trades in line during Q1, reiterates FY adjusted earnings guidance
Electronics components manufacturer discoverIE Group Plc said on Thursday that Q1 trading was in line with guidance and said expectations for adjusted earnings for FY25/26 remain unchanged.
Discoverie said group sales were 3% higher year-on-year at constant currency, with organic sales flat and acquisitions contributing 3% growth.
Three of Discoverie's four operating units delivered "good levels of organic sales growth". However, this was offset by its controls operating unit, where demand remained subdued.
The FTSE 250-listed group said total orders were 4% lower at constant currency in Q126, following a strong previous quarter and against a strong Q125 comparator. Discoverie also noted that it maintained "a strong order book for delivery" through the remainder of FY26.
"With an excellent pipeline of organic and inorganic opportunities and strong cashflow, the group is well positioned to continue its through-cycle growth as market conditions further stabilise," said Discoverie.
As of 1120 BST, Discoverie shares were down 2.39% at 695.00p.
Reporting by Iain Gilbert at Sharecast.com
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.
