discoverIE Group plc has released its preliminary results for the twelve months ended 31 March 2024. The company reported a strong financial performance, with revenue increasing by 15% to £582.7m and underlying operating profit rising by 20% to £69.1m. The order book also saw a significant growth of 18% to £180.4m, reflecting the company's positive momentum.
The company's strategic focus on sustainable technologies and long-term growth markets has contributed to its success. The CEO highlighted, "Our focus on long-term growth markets and sustainable technologies continues to drive the business forward, and we have made good progress in delivering our strategy."
discoverIE's strong performance was also reflected in its dividend, which increased by 10% for the year. The company's balance sheet remains robust, with a net debt to EBITDA ratio of 1.1x, providing a solid foundation for future growth and investment opportunities.
The company's divisions also performed well, with the Design & Manufacturing division delivering a particularly strong performance, driven by its focus on custom solutions for customers in target markets. The Custom Supply division also saw growth, benefiting from its broad customer base and diverse end markets.
Overall, discoverIE Group plc's preliminary results for the twelve months ended 31 March 2024 demonstrate a robust financial performance, driven by its strategic focus on sustainable technologies and long-term growth markets. The company's strong revenue growth, increased order book, and dividend growth reflect its positive momentum and solid foundation for future growth and investment opportunities.