StockMarketWire.com - Customised electronics maker DiscoverIE reported a fall in annual profit as pandemic-led weakness in the first half offset a strong recovery in the second.

For the year ended 31 March 2021, pre-tax profit fell 13% to £17 million year-on-year as revenue slipped 3% to £454.3 million.

'The second half saw a strong recovery following the uncertainty of the first half, with orders increasing organically by 12% year-on-year and the Group returning to organic sales growth by the year end,' the company said.

Looking ahead, the new fiscal year 'has started well with organic sales growth ahead of last year and the year before and continuing strong orders running ahead of sales across all territories,' it added.


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