Discoverie experiences 'continued strong momentum' in Q1

(Sharecast News) - Electronics manufacturer Discoverie said on Friday that it had seen "continued strong momentum in orders and sales" during the first quarter of its trading year, following on from trading momentum experienced in the fourth quarter of last year. Discoverie said group orders up 31% organically and group sales were 6% higher organically, with a book to bill ratio of 1.15.

Including contributions from its recent acquisitions of Trival and Storm, Discoverie said sales were up 10% at constant exchange rates. It also noted that both businesses were performing well and that the regulatory approval process for its acquisition of 3Gmetalworx was progressing.

The FTSE 250-listed firm also highlighted that the positive outlook continues, with full year adjusted earnings now tracking ahead of internal expectations.

Discoverie added that it has a strong order book, pipeline of design wins and acquisition opportunities, and said it was "well placed" for continued growth.

As of 0910 BST, Discoverie shares were up 7.35% at 746.10p.





Reporting by Iain Gilbert at Sharecast.com

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