DiscoverIE Group, the international designer and manufacturer of customised electronics, has upgraded its full-year earnings expectations after first-half organic sales grew 8%.
The London-listed group said adjusted earnings were running ahead of board expectations, driving strong growth over the prior year.
Organic sales growth accelerated through the half, rising 6% in the first quarter and 10% in the second, with the Magnetics and Controls division leading the way at 13%.
That division is benefiting from strong demand in industrial electrification, renewable energy and security markets.
The Sensing and Connectivity division grew 1% organically, though this was 5% higher than the second half of last year and is expected to accelerate as supply lead times normalise.
Group orders grew 22% organically, producing a book-to-bill ratio of 1.12 and a strong order book heading into the second half.
Including acquisitions, total group sales rose 14% on a reported basis.
Operating cash generation has remained healthy, with gearing expected at 1.6 times net debt to earnings at 30 September 2026.
Regulatory approval for the pending acquisition of 3Gmetalworx is well progressed, and gearing is expected to reach around 1.8 times following completion.
