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Continued Order Strength Drives Upgrades

discoverIE Group plc is an independent designer, manufacturer and supplier of electronic components, headquartered in the UK and part of the FTSE 250 Index. Its trading update for the four months to 31 January 2022 confirmed a continuation of the strong trading momentum reported in H122 and management expects FY22 underlying EPS for continuing operations to be ahead of board expectations, despite ongoing supply chain issues. discoverIE also disclosed its new divisional structure, with the business split into two groups: Magnetics & Controls and Sensing & Connectivity. The new structure aligns business units by technology area, enabling greater collaboration between business units and giving better visibility to the group’s growth initiatives. Edison Group has upgraded its underlying diluted EPS forecasts by 4% in FY22 and 2% in FY23 due to confidence in the new structure and better than expected revenue and orders year to date.

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