DiscoverIE Group plc has released a trading update for the first half of the year. The company reported strong performance, with both revenue and order intake exceeding expectations. The organic revenue growth was 10%, driven by a robust performance in all of its divisions. The company's Design & Manufacturing division saw particularly strong growth, with revenue up 15% compared to the same period last year. The Custom Supply division also performed well, with revenue up 8%.
The company highlighted its focus on strategic initiatives, including investment in new product development and expansion into new markets. DiscoverIE Group plc has continued to invest in its Design & Manufacturing division, which has resulted in a strong pipeline of new design wins. The company also expanded its presence in North America through the acquisition of a US-based business, which has contributed to its growth in the region.
DiscoverIE Group plc remains confident in its outlook for the full year, expecting to deliver results in line with market expectations. The company's strong performance in the first half of the year, along with its strategic initiatives, positions it well for continued growth.
The CEO of DiscoverIE Group plc, Nick Jefferies, commented on the trading update, stating, "We are pleased with the strong performance in the first half of the year, which reflects the successful execution of our strategy. Our focus on design-led differentiation and international expansion continues to drive growth across our business. We remain confident in our ability to deliver sustainable, profitable growth over the long term."
Overall, DiscoverIE Group plc has reported strong performance in the first half of the year, with revenue and order intake exceeding expectations. The company's strategic initiatives, including investment in new product development and expansion into new markets, have contributed to its growth. DiscoverIE Group plc remains confident in its outlook for the full year and is well-positioned for continued growth.