discoverIE Group - Strong growth in D&M continues
discoverIE continues to see a strong trading environment, with reported year-on-year revenue growth of 13% for Q318, and organic constant currency growth of 7%. Order intake was 4% higher on an organic basis, with strong growth from Design & Manufacturing. Management anticipates that trading is in line to meet its expectations for FY18 and we leave our estimates unchanged. The addition of outgoing Diploma CEO, Bruce Thompson, as a non-executive director should bring a wealth of experience in growing an international business.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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