discoverIE Group plc has released its Q3 trading update, showcasing a robust performance despite challenging market conditions. The company reported a 10% increase in organic order intake compared to the same period last year, driven by strong demand across its target markets. The Design & Manufacturing division experienced a particularly notable performance, with a 15% organic order intake growth. This growth was attributed to the division's focus on long-term design-in projects and its diverse customer base.
The company's Custom Supply division also demonstrated resilience, with a 5% organic order intake growth. discoverIE Group plc highlighted its continued investment in new product development and innovation, which has contributed to its strong performance. The company's focus on sustainability and environmental initiatives was also emphasized, aligning with its commitment to responsible business practices.
discoverIE Group plc's CEO, Nick Jefferies, expressed confidence in the company's performance, stating, "We are pleased with the continued strong performance in Q3, which reflects the resilience of our business model and the dedication of our people. Our focus on long-term design-in projects and our diverse customer base has underpinned our performance, and we continue to invest in new product development and innovation to drive future growth."
The company's positive outlook for the remainder of the financial year was underscored, with a reaffirmation of its full-year expectations. Despite the ongoing market challenges, discoverIE Group plc remains optimistic about its ability to deliver sustainable growth and value for its stakeholders.