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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

Market: LSE
Market Cap: £661.97 m

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