discoverIE has reported a strong performance in FY20 despite Q4 being affected by COVID-19. Sales were up +8% at constant exchange rates and adj. EPS up by +11% (ahead of our +1% forecast) as margins improved by 100bps to 8.0% and tax reduced. Looking forward, Q1 sales are down -10%, evidencing relatively resilient customer demand, and the order book remains strong at £159m (+13% CER). Coupled with strong cash flow reducing net debt/EBITDA to 1.25x, the group is very well placed to trad
24 Jun 2020
discoverIE - Resilient, flexible and well positioned for growth
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discoverIE - Resilient, flexible and well positioned for growth
discoverIE Group PLC (DSCV:LON) | 706 0 0.0% | Mkt Cap: 674.4m
- Published:
24 Jun 2020 -
Author:
Guy Hewett -
Pages:
5
discoverIE has reported a strong performance in FY20 despite Q4 being affected by COVID-19. Sales were up +8% at constant exchange rates and adj. EPS up by +11% (ahead of our +1% forecast) as margins improved by 100bps to 8.0% and tax reduced. Looking forward, Q1 sales are down -10%, evidencing relatively resilient customer demand, and the order book remains strong at £159m (+13% CER). Coupled with strong cash flow reducing net debt/EBITDA to 1.25x, the group is very well placed to trad