Electronics manufacturer DiscoverIE said on Thursday that trading in the final two months of the year continued to be strong, with the group now expecting to deliver full-year underlying earnings from continuing operations ahead of previous guidance.
Group orders for the year were well ahead of sales, growing organically by 36% year-on-year and 32% when compared to two years ago, while DiscoverIE’s period-end order book of £224.0m was a new record level and 62% higher organically than a year ago.
The FTSE 250-listed firm stated group sales for the year were also higher than previously expected, up 28%. Organically, sales grew by 17% and 13% compared with 2019-20 and 2020-21, respectively, amid strong trading in each of its two divisions.
“With a clear strategy focused on long-term, high quality, structural, and sustainable growth markets across Europe, North America, and Asia, a diversified customer base, a record order book, and a strong pipeline of acquisition opportunities, the group is well-positioned to make further progress on its key priorities,” said DiscoverIE.
