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DiscoverIE resumes dividends; profit falls in H1
StockMarketWire.com
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Customised electronics manufacturer DiscoverIE resumed dividend payments, citing an improved outlook. The company reported, however, that first-half profit fell by more than a quarter as revenue was hurt by the impact of the pandemic.
For the six months ended 30 September 2020, pre-tax profit fell 26% to £7.7 million year-on-year as revenue slipped 6% to £217.9 million.
With an improving outlook, and strong cash flow, the company said it would reinstate dividends, and declared a 6% increase in the interim dividend to 3.15p per share.
'The second half has started well with orders ahead of sales and up on last year,' the company said.
'With the group's continued focus on the structural growth markets of renewable energy, medical, electrification of transportation and industrial & connectivity, we expect to continue to perform ahead of wider markets and make further progress on our strategic priorities,' it added.
At 9:28am: (LON:DSCV) Discoverie Group Plc share price was 0p at 632p
Story provided by StockMarketWire.com
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