Company
LON:DSCV
discoverIE Group PLC is an international group of businesses that design and manufacture innovative electronic components for industrial applications. The group provides application-specific components to original equipment manufacturers (OEMs) internationally through its two divisions, Magnetics & Controls, and Sensing & Connectivity. By designing components that meet customers’ unique requirements, which are then manufactured and supplied throughout the life of their production, a high level of repeating revenue is generated with long-term customer relationships.
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The group benefits from a strong and diversified customer base, and demand remains robust with good new order intake in March but it has seen a bit of disruption to its business of late
A strong performance from the Design & Manufacturing division offset a disappointing December for the Custom Supply division
“As current consensus excludes any future acquisitions, we believe there is significant opportunity for upgrades over the medium term"
The electronics manufacturer also reiterated its full year guidance after ending its first half with a record order book of £153mln
The US broker said the £58mln acquisition would provide “further growth opportunities in structurally attractive target markets”
The company is acquiring Sens-Tech - short for sensor technologies
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A look at some of the top stories from the Proactive newswire on Thursday
The group is on track to deliver full-year underlying earnings in line with the Board's expectations.
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A glance at some of the day's highlights from the Proactive Investors newswire
Hardware & electrical equipment
Despite going up against tough comparatives, the electronics group remains on a growth trajectory
Analysts forecast that discoverIE would have around £30mln of acquisition firepower in the near term, which if deployed in similar terms to previous purchases could lift earnings by 10%
Archive
A glance at some of the day's highlights from the Proactive Investors newswire
Archive
A glance at some of the day's highlights from the Proactive Investors newswire
The custom electronics maker reported an underlying pre-tax profit for the year ended 31 March of £27.2mln, 24% higher than the year before
Investments and investor services
Fed chair Jerome Powell also settled nerves by saying that the central bank could cut interest rates if necessary
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The Day Ahead will otherwise be fairly quiet on the corporate news front, so attention will remain on President Trump's state visit and the latest UK construction PMI survey
Archive
A glance at some of the day's highlights from the Proactive Investors newswire
Archive
A look at some of the biggest risers and fallers in London on Tuesday
Archive
A glance at some of the day's highlights from the Proactive Investors newswire
Hardware & electrical equipment
The customised electronic components maker also said that it had traded strongly in the final quarter of its financial year
