08/08/2020

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discoverIE Group PLC highlights strong order book, significant scope for growth

The customised electronics specialist said it expects to resume acquisitions as industry disorders strengthen in the 2nd half of the calendar year

discoverIE Team PLC () has said its get e-book “remains strong” and that it sees “significant scope for further expansion” in its layout & production (D&M) division.

In a buying and selling update for the initially 4 months of its present calendar year ending March 31, 2021, the customised electronics specialist said considering that Might orders have elevated by about 10% for each thirty day period in June and July, to a amount related to product sales.

Go through: DiscoverIE receives enhance after final results impress Berenberg

Team product sales for the whole time period are about eight% reduce than very last calendar year, on the other hand, the enterprise said organic and natural growth premiums continued to be stronger in its goal markets, led by its renewable power and professional medical divisions.

discoverIE extra that it “continues to be resilient in the event of any localised secondary outbreaks of coronavirus”, with a single of its Indian manufacturing facilities obtaining reopened following closure for two months though its other facility in the nation is predicted to reopen future 7 days.

Wanting forward, the agency said it continued to see scope for expansion with “several acquisition prospects in development”. It extra that it predicted to resume purchases as industry disorders strengthen in the 2nd half of the calendar year.

“The discoverIE small business model is resilient and versatile, underpinned by a distinct approach focused on superior-high-quality growth markets. With a solid funnel of layout wins and acquisition targets, the Team is well positioned for a return to solid growth as disorders recover”, the enterprise said in the trading update