discoverIE reported resilient trading through H121, with a revenue decline of 6% y-o-y, noting that sales in target markets performed significantly ahead of other sectors. Order intake improved through Q2 and the book-to-bill ratio for September was above 1x. With increased confidence in its outlook and a strong balance sheet, the company intends to reinstate the dividend with interims in November and has resumed its M&A strategy with the acquisition of a high margin US sensors business.
16 Oct 2020
discoverIE Group - Dividend and M&A back on the agenda
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discoverIE Group - Dividend and M&A back on the agenda
discoverIE Group PLC (DSCV:LON) | 694 -27.7 (-0.6%) | Mkt Cap: 662.0m
- Published:
16 Oct 2020 -
Author:
Katherine Thompson -
Pages:
3
discoverIE reported resilient trading through H121, with a revenue decline of 6% y-o-y, noting that sales in target markets performed significantly ahead of other sectors. Order intake improved through Q2 and the book-to-bill ratio for September was above 1x. With increased confidence in its outlook and a strong balance sheet, the company intends to reinstate the dividend with interims in November and has resumed its M&A strategy with the acquisition of a high margin US sensors business.