UK's discoverIE climbs on prelim FY profit rise

Discoverie

04/06/2025 09:02

** Shares of discoverIE DSCV.L up 10.4% at 697.5p

** Designer and manufacturer of customised electronics  posts prelim FY25 adj pretax profit up 4% at 50.1 mln pounds ($67.83 mln); rev down 3% to 422.9 mln pounds due to prolonged industry-wide destocking

** Upgrades FY28 adj operating margin target to 15%, FY30 to 15%

** We remain mindful of the volatile economic conditions and its potential to impact customers' demand - Group CEO Nick Jefferies

** YTD, stock down ~11%, as of last close

($1 = 0.7387 pounds)

 (Reporting by Ankita Bora in Bengaluru)

 ((Ankita.Bora@thomsonreuters.com))