discoverIE Group - Starting H222 with a record order book
discoverIE’s trading update confirmed that performance in H122 was ahead of board expectations, with organic revenue growth of 15% y-o-y and 8% versus the pre-COVID H120. Despite supply chain challenges, the company maintained gross margins. Q222 order intake continued in the same strong vein as H221 and Q122, resulting in a record order book entering H222 and driving a small upgrade to our FY22 and FY23 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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