UK's discoverIE rises on higher H1 adj operating margin

Discoverie

03/12/2024 09:43

** Shares of discoverIE, a designer and manufacturer of
customised electronics,  DSCV.L  up 14.1% at 722p 
    ** Co reports H1 underlying operating margin of 13.8% vs
12.9% last year
    ** Earnings performance in H1 (underlying oper. margin: 
13.8%) is seen as very strong, surpassing the full-year  target
in the seasonally weaker H1 - Peel Hunt analysts
    ** Co says well on track to achieve 15% adj operating margin
target in FY2027/28
    ** Posts H1 group rev 211.1 mln pounds ($267.8 mln) vs 222
mln pounds ($281.7 mln) last year 
    ** Reports H1 profit before tax 15.8 mln pounds vs last
year's 16 mln pounds 
    ** DSCV says on track to deliver FY underlying earnings in
line with expectations
    ** As of last close, stock down ~11.39% YTD 

($1 = 0.7882 pounds)

 (Reporting by Ankita Bora in Bengaluru)
 ((Ankita.Bora@thomsonreuters.com))