DiscoverIE Group Posts Strong H1 Results

discoverIE Group plc (DSCV.L), on Wednesday, reported H1 underlying profit before tax of £23.5 million versus £16.1 million last year. Underlying earnings per share was 17.8p compared to 13.0p in the prior year period.

Reported profit before tax was £14.8 million or 10.9p per share compared to £6.4 million or 6.6p per share in the same period of last year.

Revenue for the for the six month period ended 30 September 2022 totaled £219.7 million, 23% higher than the previous year's £174.3 million.

Nick Jefferies, Group Chief Executive, said, "DiscoverIE performed well in the first half, with further strong growth in sales and order book along with good operating efficiencies, leading to 37% growth in underlying earnings per share... The discoverIE business model has proven resilient through differing market conditions and with a pipeline of acquisition opportunities and a strong balance sheet, the Group is well positioned to make further progress."

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