leadf
logo-loader
viewdiscoverIE Group PLC

discoverIE Group resumes dividend payments after starting second half on the front foot

discoverIE Group PLC's (LON:DSCV) chief executive Nick Jefferies talks to Proactive London's Polly Middlehurst about their latest six month results.

He said he was "relieved and pleased that we have had a resilient performance" throughout the electronic components producer's locations.

The company returned to organic revenue growth in September and in the last two months has seen orders running ahead of sales: in fact, the second half of its financial year has started well enough to resume dividend payments.

Profit before tax declined to £7.7mln from £10.4mln the year before. Jefferies says the "wider markets are down very much more than that", given the context.

Free cash flow for the period was £20.1mln, resulting in roughly £20mln being wiped off net debt, which stood at £42.1mln at the end of September.

Quick facts: discoverIE Group PLC

Price: 740 GBX

LSE:DSCV
Market: LSE
Market Cap: £661.97 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of discoverIE Group PLC named herein, including the promotion by the Company of discoverIE Group PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Market Report: FTSE dives as coronavirus uncertainty dominates sentiment

FTSE 100 made a poor start with sentiment dominated by coronavirus (COVID-19) uncertainty. London’s blue chip index dived 113 points to 5,821 in early trading. Marston's PLC (LON:MARS) is cutting up to 2,150 roles currently in furlough. The publican blamed the new restrictions imposed by the...

on 15/10/20

2 min read