discoverIE - well now we know! This morning's AGM Trading Update prompts a 100p four-day advance

Mark Watson-Mitchell - 24.07.2026

On Monday of this week my feature on discoverIE (LON:DSCV) asked the question - will the AGM Statement boost the shares?

Well now we know!

This morning's statement has seen the group's shares explode upwards in price, some 12.37% better at 781p, after hitting 786.80 at their best this morning - up over 86p on the day.

The Business

discoverIE Group is a leading international group of businesses that design and manufacture customised electronic components for industrial applications.

It supplies application-specific components to original equipment manufacturers ("OEMs") internationally through its two divisions, Magnetics & Controls and Sensing & Connectivity.

By designing components that meet customers' unique requirements, which are then manufactured and supplied throughout the life of their production, a high level of long-term repeating revenue is generated.

The business focuses on key target markets driven by structural growth, increasing electronic content and sustainability, namely industrial automation & connectivity, security, renewable energy, medical and the electrification of transportation.

With that focus, the group aims to grow well ahead of GDP through the economic cycle and to supplement that with complementary acquisitions, compounding growth.

Impressively, the group has made 30 acquisitions in the last 15 years.

It now employs some 4,600 people across 21 countries with its principal operating units located in Mainland Europe, the UK, China, Sri Lanka, India and North America.

Trading Update

This morning the group issued a Trading Update for the first three months to end-June.

In Q1 the group stated that the strong trading momentum experienced in the fourth quarter last year had continued with group orders up 31% organically and sales up 6% organically with a book to bill of 1.15.

Including contributions from its recent acquisitions of Trival and Storm, sales were up 10% CER. while both businesses were performing well and the regulatory approval process for the acquisition of 3Gmetalworx has been progressing.

The positive outlook continues with full year adjusted earnings tracking ahead of the Board's expectations.

The group has a strong order book, pipeline of design wins and acquisition opportunities, and is well placed for continued growth.

My View

An excellent four-day rise!

This Update was very pleasing and shows a 100p advance in four days.

On Monday morning I stated that:

"My gut feeling is that a good positive statement this Friday will certainly create some upward impetus for this group’s shares, now 685p, with at least 750p quickly in sight."

They now feel as though they are heading even higher, but allow for some short-term profit takers to make their mark, let them ease, then steady before taking a position.

(Profile 08.08.19 @ 438p set a Target Price of 550p*)

(Profile 16.04.25 @ 541p set a Target Price of 675p*)

(Profile 21.07.26 @ 685p set a Target Price of 750p*)