discoverIE has reported a strong set of H1 2020 results driven by strong sales growth (+10% in total and +5% organic) and rising operating margins (7.6% up from 6.8%). Adj. EPS was up +11%. With a record order book and a high level of design wins the group is very well placed to further progress its growth track record despite more short-term economic caution generally. We upgrade FY 2021 EPS by 2% factoring in the latest acquisition and raise our target price from 535p to 579p.
28 Nov 2019
discoverIE - Strategy continues to deliver growth and rising margins
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
discoverIE - Strategy continues to deliver growth and rising margins
discoverIE Group PLC (DSCV:LON) | 691 -110.6 (-2.3%) | Mkt Cap: 659.6m
- Published:
28 Nov 2019 -
Author:
Guy Hewett -
Pages:
6
discoverIE has reported a strong set of H1 2020 results driven by strong sales growth (+10% in total and +5% organic) and rising operating margins (7.6% up from 6.8%). Adj. EPS was up +11%. With a record order book and a high level of design wins the group is very well placed to further progress its growth track record despite more short-term economic caution generally. We upgrade FY 2021 EPS by 2% factoring in the latest acquisition and raise our target price from 535p to 579p.