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DiscoverIE - Shares at 12 month high on M&A expectations

July 2023

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • DSVC
  • Price:
  • 840p
The shares hit a one year high following full year results with investors dismissing concerns over normalising order books and instead turning their thoughts to M&A, which seems likely to play a significant role in driving potential upgrades this year. As it was, for the year to end March, sales were +18% (+10% organic) to £449m, split between the Magnetic and Controls (+11%) and Sensing and Controls (+8%) divisions. Pretax profit was £46.3m (+23%), with eps of 35.2p and dps of 11.5p (+6%). Operating profit was £51.8m with the margin improving 60 bps to 11.5% driven by operational gearing and continued cost control. Management reiterated its goal to reach 13.5% by FY25 (versus FY23, this is +70bps organic and +130bps from M&am ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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