discoverIE has weathered the pandemic well, with H1 sales down -6% and adj. PBT down -12%. Cash flow was particularly strong, reducing net debt from £61m at March 2020 to £42m at September. The second half has started well, with orders ahead of sales and up on last year, and dividends have resumed with a 3.15p interim (up +6% on last year). We are factoring a touch more caution into our forecasts to allow time for orders to build into sales, but reiterate our view that discoverIE is resilient, f ....
30 Nov 2020
discoverIE - Orders recovering, strategy on track
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discoverIE - Orders recovering, strategy on track
discoverIE Group PLC (DSCV:LON) | 705 -28.2 (-0.6%) | Mkt Cap: 673.0m
- Published:
30 Nov 2020 -
Author:
Guy Hewett -
Pages:
7
discoverIE has weathered the pandemic well, with H1 sales down -6% and adj. PBT down -12%. Cash flow was particularly strong, reducing net debt from £61m at March 2020 to £42m at September. The second half has started well, with orders ahead of sales and up on last year, and dividends have resumed with a 3.15p interim (up +6% on last year). We are factoring a touch more caution into our forecasts to allow time for orders to build into sales, but reiterate our view that discoverIE is resilient, f ....