discoverIE saw continued good trading momentum in Q320, with group revenue growth of 3% y-o-y (9M20 +7% y-o-y). Strong organic growth in the Design & Manufacturing (D&M) business, particularly in its target markets, was offset by temporary destocking issues in Custom Supply (CS). CS orders have rebounded in January and the company maintains its earnings expectations for FY20; we maintain our forecasts.
31 Jan 2020
discoverIE Group - On track for FY20
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discoverIE Group - On track for FY20
discoverIE Group PLC (DSCV:LON) | 694 -27.7 (-0.6%) | Mkt Cap: 662.0m
- Published:
31 Jan 2020 -
Author:
Katherine Thompson -
Pages:
3
discoverIE saw continued good trading momentum in Q320, with group revenue growth of 3% y-o-y (9M20 +7% y-o-y). Strong organic growth in the Design & Manufacturing (D&M) business, particularly in its target markets, was offset by temporary destocking issues in Custom Supply (CS). CS orders have rebounded in January and the company maintains its earnings expectations for FY20; we maintain our forecasts.