discoverIE reported H119 revenue growth of 11%, with 7% organic growth and 5% growth from the Santon acquisition offset by a 1% currency effect. Good order intake in H1 provides support for growth in H2 and management sees FY19 trading in line with its expectations. We have revised our forecasts to reflect H1 trading, resulting in upgrades to our normalised EPS forecasts of 3% in FY19e and 2% in FY20e.
18 Dec 2018
discoverIE Group - H1 organic growth supports FY19 outlook
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discoverIE Group - H1 organic growth supports FY19 outlook
discoverIE Group PLC (DSCV:LON) | 761 144.6 2.6% | Mkt Cap: 726.4m
- Published:
18 Dec 2018 -
Author:
Katherine Thompson -
Pages:
8
discoverIE reported H119 revenue growth of 11%, with 7% organic growth and 5% growth from the Santon acquisition offset by a 1% currency effect. Good order intake in H1 provides support for growth in H2 and management sees FY19 trading in line with its expectations. We have revised our forecasts to reflect H1 trading, resulting in upgrades to our normalised EPS forecasts of 3% in FY19e and 2% in FY20e.