The DiscoverIE Group Plc Board is recommending a 4% (0.35 pence) increase in the final dividend to 8.25 pence per share, giving a 5% increase in the full year dividend per share to 12.0 pence (FY 2022/23: 11.45 pence) and an underlying earnings cover of 3.1 times (FY 2022/23: 3.1 times). The final dividend is payable on 2 August 2024 to shareholders registered on 28 June 2024.
Other financial highlights include:
Group revenue up 1% CER after adjusting for pass-through costs, a 3% reduction on a statutory basis against strong comparators (sales increased by +48% over prior 2 years)
Operating efficiencies improve margins and more than offset a 1% reduction in organic sales
Double-digit organic sales growth in medical, renewable and transportation markets offset by short-term destocking in industrial automation
Underlying operating profit up 16% CER
