DiscoverIE says annual underlying earnings to be ahead of expectations
DiscoverIE PLC on Wednesday said it expects to report ‘another year of record profitability’ in financial 2025.
The Surrey, England-based company designs and manufactures electronic components for industrial applications.
DiscoverIE said underlying earnings are estimated to be slightly ahead of board expectations in the financial year that ended March 31, despite experiencing volatile market conditions. Underlying earnings per share were 18.4 pence in the previous year. Pretax profit was £15.8 million.
DiscoverIE’s said revenue was 3% below financial 2024, when it was £125.8 million, with sterling strength hurting the company sales by 1%.
The company said it expects to move more of its production to the US in the coming months to avoid trade tariffs and better align with the sales it makes there.
DiscoverIE has 7 of its 38 manufacturing sites in the US, which accounts for around a quarter of total sales. It imports very little to the US from China and already has the capacity to manufacture local products in the US.
DiscoverIE shares were up 1.5% to 549.00 pence in London on Monday morning.
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