discoverIE Group PLC resumes dividend payments after starting second half on the front foot

discoverIE Group PLC’s () chief executive Nick Jefferies talks to Proactive London’s Polly Middlehurst about their latest six month results.

He said he was “relieved and pleased that we have had a resilient performance” throughout the electronic components producer’s locations.

The company returned to organic revenue growth in September and in the last two months has seen orders running ahead of sales: in fact, the second half of its financial year has started well enough to resume dividend payments.

Profit before tax declined to £7.7mln from £10.4mln the year before. Jefferies says the “wider markets are down very much more than that”, given the context.

Free cash flow for the period was £20.1mln, resulting in roughly £20mln being wiped off net debt, which stood at £42.1mln at the end of September.