bullish
discoverIE Group - Better trading and acquisition drive upgrades
SUMMARY
discoverIE’s Q323 trading update confirmed continued good momentum, with FY23 underlying earnings tracking ahead of board expectations. The company has completed the previously announced acquisition of Magnasphere, adding a high margin sensor business to the Sensing & Connectivity division. We have upgraded our forecasts to reflect better trading and the accretive acquisition and note that gearing remains below the company’s target range, providing headroom for further M&A.
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- discoverIE Group - Better trading and acquisition drive upgrades26 Jan 2023
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