discoverIE Group H2 Earnings Call Highlights
Key takeaways
- Speaking on the company’s results call for the year ended March 26, Jefferies said the group saw “increasing trading momentum through the year,” including organic orders up 14% in the fourth quarter and sales up 5%.
- → Best Buy’s AI Laptop Boost Sparks Hope for a BBY Turnaround
- Jefferies said discoverIE had also continued to invest in future growth, adding production, sales and management capability mainly in Europe and the United States, with some investment in Asia.
Speaking on the company’s results call for the year ended March 26, Jefferies said the group saw “increasing trading momentum through the year,” including organic orders up 14% in the fourth quarter and sales up 5%. For the full year, organic sales rose 2%, with both divisions in growth. The order book increased 5% by the end of the second half compared with the first half, reflecting orders running ahead of sales.
→ Best Buy’s AI Laptop Boost Sparks Hope for a BBY Turnaround
Jefferies said discoverIE had also continued to invest in future growth, adding production, sales and management capability mainly in Europe and the United States, with some investment in Asia. Adjusted operating profit rose 1%, while the adjusted operating margin declined 40 basis points to 13.8%. Adjusted earnings per share increased 4%.