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discoverIE Group PLC on Tuesday said its performance for the first half of the year was in line with adjusted earnings expectations with ‘improving growth trends’. The Surrey, England-based designer and manufacturer of electronic components for industrial applications said group sales for the six months to the end of September were 3% ahead of last year at constant exchange rates, or 2% higher on a reported basis. Organically, sales increased by 0.5% in the half-year and by 1% in the second quarter. Acquisitions contributed a further 2.5% growth. discoverIE said three of its four operating units - Sensing, Connectivity and Magnetics - had ‘good levels’ of organic sales growth. This was offset by the Controls unit where demand was subdued during the period, as previously reported. Group orders for the first half of the year were 5% ahead of last year at constant exchange rates, increasing by 0.5% organically. In the second quarter, orders were up 13% at constant exchange rates and by 8% organically. ‘There continues to be a strong order book for delivery through the remainder of the financial year,’ the company said. It added that gross margins ‘have remained robust’ while working capital is ‘tightly managed’. ‘The group is well positioned to continue its through-cycle growth both organically and inorganically as market conditions further stabilise,’ it said. Shares in discoverIE were up 2.0% at 599.00 pence in London on Tuesday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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