discoverIE Group - Entering FY23 in a strong position
discoverIE continued to see strong order intake and sales in the remaining two months of FY22, closing the year ahead of board expectations. FY22 revenue grew 25% y-o-y and on an organic basis, revenue grew 17% and orders by 36%, to end the year with a record order book. We have upgraded our underlying EPS forecasts by 4.0% for FY22 and 2.5% for FY23.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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