DiscoverIE Group plc Provides Earnings Guidance for the Year Ended March 31, 2020; Provides Sales Guidance for the First Quarter of 2021
May 15, 2020 at 02:00 am EDT
discoverIE Group plc provided earnings guidance for the year ended March 31, 2020. With trading elsewhere in the Group at the end of the year as anticipated, Group sales for the year increased by 8% CER (up 6% reported) with organic sales growth of 2%, driven by 5% organic growth in D&M division. Accordingly, earnings for the year are expected to be slightly ahead of revised expectations set in March. Orders remained ahead of sales driving an order book up 7% organically to £159 million, a record year-end high.
Sales to date for the first quarter of the new year are running 10% lower on an organic basis compared with last year, partly as a result of the short term impact of the facility closures experienced in March and April.