Another broker has given the thumbs-up to the disposal by discoverIE Group PLC of its custom supply distribution business, Acal Bfi.
Broker finnCap joined Shore Capital in endorsing the exit from a lower margin business, calling the disposal “a significant step forward” and “a positive move up the value chain”.
The group will now solely be a global designer and manufacturer of customised electronics focused on structurally growing markets.
“We have moved Acal BFi’s results to the discontinued line (excluded from our adjusted figures), and reiterate our view that the proven growth strategy remains very well placed to continue to drive both organic and acquisition-led growth, with the focus on long-term, high quality, structural growth markets of Renewable Energy, Transportation, Medical and Industrial & Connectivity,” discoverIE’s house broker said.
