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)

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