discoverIE Group (LSE:DSCV) said sales for the year ended 31 March rose 5% at constant exchange rates to £443.3m, with organic sales up 2% for the year and 5% organically in Q4 versus the prior year.
Adjusted operating profit increased 1% to £61m, adjusted EPS rose 4% to 40.3p, and reported profit before tax after acquisition-related amortisation was £36.1m with fully diluted EPS of 29.4p.
"Trading momentum improved through the year with final quarter orders increasing by 14% organically, sales increasing by 5% organically and with orders ahead of sales, giving us confidence as we start the new financial year," Nick Jefferies said.
Orders strengthened through the year, rising 9% overall and 5% organically with Q4 organic orders up 14%, leaving an order book of £165m, equivalent to about 4.5 months of second-half annualised sales.
Free cash flow was £36.6m with 92% conversion, net debt excluding IFRS16 fell to £80.5m and headroom was bolstered by a £240m revolving credit facility extended to May 2030 and a proforma gearing of 2.2x reducing to a forecast 1.8x by March 2027.
The Group announced three acquisitions for a combined initial consideration of £95m at an EBIT multiple of c.9x (Storm completed in the year, Trival in April 2026 and 3G announced in May 2026), increasing exposure to defence and human‑machine interface markets.
The company said the outlook is positive with full year adjusted earnings for the new financial year expected to be in line with Board expectations and that first quarter trading has started well with orders running ahead of sales.
