DiscoverIE Group 1st Half Sales Hampered by Sterling -- Currency Comment
30 November 2021 - 11:10PM
Dow Jones News
By Mauro Orru
DiscoverIE Group PLC posted higher sales in the first half of
fiscal 2022, but said that sterling held back growth for the
period.
The electronics manufacturer said a stronger sterling in the six
months ended Sept. 30 reduced sales by 3%. Sales rose 21% on a
reported basis to GBP174.3 million.
"A stronger sterling during the period, particularly compared
with the U.S. dollar and euro, reduced sales by 3% on translation
for a net growth in reported continuing group sales of 21%," the
company said.
Sterling currently trades at $1.3345.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
November 30, 2021 06:55 ET (11:55 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Discoverie (LSE:DSCV)
Historical Stock Chart
From Apr 2024 to May 2024
Discoverie (LSE:DSCV)
Historical Stock Chart
From May 2023 to May 2024