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Discoverie trades in line during Q1, reiterates FY adjusted earnings guidance
(Sharecast News) - Electronics components manufacturer Discoverie said on Thursday that Q1 trading was in line with guidance and said expectations for adjusted earnings for FY25/26 remain unchanged. Discoverie said group sales were 3% higher year-on-year at constant currency, with organic sales flat and acquisitions contributing 3% growth.
Three of Discoverie's four operating units delivered "good levels of organic sales growth". However, this was offset by its controls operating unit, where demand remained subdued.
The FTSE 250-listed group said total orders were 4% lower at constant currency in Q126, following a strong previous quarter and against a strong Q125 comparator. Discoverie also noted that it maintained "a strong order book for delivery" through the remainder of FY26.
"With an excellent pipeline of organic and inorganic opportunities and strong cashflow, the group is well positioned to continue its through-cycle growth as market conditions further stabilise," said Discoverie.
As of 1120 BST, Discoverie shares were down 2.39% at 695.00p.
Reporting by Iain Gilbert at Sharecast.com
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