discoverIE Group - Double-digit order growth for D&M
discoverIE has confirmed that trading in Q119 was in line with expectations and is on track to meet FY19 earnings expectations. The group generated organic revenue growth of 3% y-o-y, with Design & Manufacturing (D&M) at 5% organic growth and Custom Supply (CS) at 1%. Strong 13% organic growth in D&M orders resulted in 20% y-o-y growth in the group order book at end-Q119 and provides good visibility for FY19 revenues. We maintain our forecasts.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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