discoverIE Group - Broad-based demand drives strong Q2 trading
discoverIE saw an acceleration in organic growth in Q219, resulting in H119 organic growth of 4% y-o-y. Both divisions grew organically during the period, with better demand in the UK driving a step-up in organic growth for Custom Supply in Q2. Organic bookings growth of 4% for H1 supports the outlook for H2 and we maintain our estimates.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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