Electrical components - LSE - Mcap: £666m - Price: 691p - Update
discoverIE Group (DSCV)
FY24 EPS in line; good margin progress
discoverIE anticipates reporting FY24 underlying EPS in line with board expectations. After a period in mid-FY24 of working down inventory, customers appear to be reverting to normal ordering patterns, with Q424 organic revenue growth of 2% y-o-y and 11% q-o-q and a strong pipeline of design wins at year-end. We have revised our forecasts to reflect lower revenue, partly due to a disposal, but maintain our profit forecasts, which results in operating margin expansion in FY24 and FY25.
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Analyst
Katherine Thompson
Technology analyst
tech@edisongroup.com