StockMarketWire.com - Electronics supplier DiscoverIE said profit rose by a third in the first half of the year, led by increased sales growth in its higher-margin D&M division amid contributions from acquisitions.

For the six months ended 30 September 2019, pre-tax profit rose 33% to £10.4m and revenue rose 10% to £232m.

Organic sales grew by 7% in the D&M division and by 5% for the group overall, the company said.

'Since the beginning of the year, the group has acquired, in the UK, Sens-Tech and Positek, and in the US, Hobart, all of which are high quality, higher margin D&M businesses,' said DiscoverIE.

'Since the period end, orders have continued ahead of sales, and with a record order book, a continuing high level of design wins and a pipeline of acquisition opportunities, the Group is on track to deliver full year earnings in line with our expectations,' it added.

At 10:00am: [LON:DSCV] Discoverie Group Plc share price was -12p at 528p



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