StockMarketWire.com - Electronics supplier DiscoverIE reported a fall in sales in the four months through March and said it would resume acquisitions in the second half of the year.

For the first four months of the year ending 31 March, sales were approximately 8% below last year, and 10% lower organically.

'Organic growth rates continue to be stronger in our target markets, led by renewable energy and medical,' the company said.

Since May, orders had increased sequentially by around 10% per month in each of June and July, to a level similar to sales, resulting in a book to bill ratio for the period of 0.89:1.

'The board continues to see significant scope for further expansion of the D&M division and with several acquisition opportunities in development, the group expects to resume acquisitions as market conditions improve in the second half of the year,' it added.




At 9:15am: [LON:DSCV] Discoverie Group Plc share price was +6p at 614p



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