Update: Q1 trading in line; possible Brexit upside
Trading in Q117 has been in line with management expectations, supporting the company’s outlook for FY17. Management has taken action to reduce manufacturing costs, which should support operating margins. The positive effect of the weaker pound on the translation of overseas results should outweigh any pressure on margins within the UK, although we make no changes to our estimates at this stage.discoverIE Group designs, manufactures and supplies electronic products, supplying customers in the transportation, medical, renewable energy and industrial sectors. Co.'s business is focused in five technology areas, which include communication and sensors, imaging and photonics, power and magnetics, microsystems, and electromechanical and cabling. Co. operates across two divisions: Design & Manufacturing, which supplies custom electronic products which are designed or modified from an existing product to customer specifications; and Custom Distribution, which provides technically demanding, customized electronic, photonic and medical products to industrial manufacturers.
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