DiscoverIE Group, a leading U.K. maker of electronic components, has announced a 4% increase in group sales for the first half of fiscal 2024 on a constant-currency basis. The company is confident that it will meet the board's expectations for full-year underlying earnings.
Strong Performance in Second Quarter
In the second quarter, DiscoverIE saw a 2% rise in orders compared to the first quarter. Additionally, the book-to-bill ratio improved from 0.84 to 0.91, indicating a healthy level of incoming orders.
Positive Outlook for the Future
DiscoverIE Group has a promising outlook for the second half of the fiscal year, with a strong orderbook and clear visibility into future demand. The company attributes its success to its clear strategy centered around sustainable international growth, a diversified customer base, and a robust pipeline of design wins and acquisition opportunities.
Continued Progress on Key Priorities
Despite varying market conditions, DiscoverIE Group remains well-positioned to make further progress on its key priorities. With a resilient business model and a focus on structural growth, the company is confident in its ability to navigate challenges and drive success.
At present, shares of DiscoverIE Group are trading at 657 pence, demonstrating a 2.3% increase as of 0749 GMT.