discoverIE Group plc has released its preliminary results for the year 2024. The company reported a strong financial performance, with revenue increasing by 15% to £485.1m and underlying operating profit rising by 20% to £60.2m. The company's order intake also saw a significant growth of 18%, reaching £511.2m. These results reflect the company's successful execution of its strategy and its resilience in the face of challenging market conditions.
The company's CEO highlighted the positive performance, stating, "I am pleased to report another year of strong growth for discoverIE, with all our key metrics moving in the right direction." The company's focus on innovation and its diverse portfolio of custom electronic components and solutions have contributed to its success. Additionally, the company's acquisition strategy has expanded its market reach and enhanced its capabilities, further driving its growth.
discoverIE Group plc's strong financial position has allowed it to propose a final dividend of 6.0p per share, bringing the total dividend for the year to 8.6p per share, a 10% increase from the previous year. The company's robust balance sheet and cash generation provide a solid foundation for future investments and growth opportunities.
The company's performance in the year 2024 demonstrates its ability to deliver sustainable growth and create long-term value for its shareholders. With a focus on innovation, strategic acquisitions, and a strong financial position, discoverIE Group plc is well-positioned to capitalize on future opportunities and navigate potential challenges in its markets.