Discoverie Group

Organic growth recovery after destocking

Organic recovery after 18 months of destocking was confirmed in June, and Q1 orders rose 31% organically. The H1 update shows organic sales +8% (Q2 +10%) and orders +22%, with book-to-bill 1.12. Full-year earnings are now 'running ahead' of Board expectations, with S&C expected to accelerate in H2.

Q1 orders

+31% organic

Q1 sales

+6% organic; +10% at CER including Trival and Storm

Guidance

Full year adjusted earnings running ahead of Board's expectations 14 Oct 2026 ↗

Prior order book

£165m at 31 March 2026

H1 sales

+8% organic (Q1 +6%, Q2 +10%); +13% CER including acquisitions 14 Oct 2026 ↗

H1 orders

+22% organic (M&C +25%, S&C +18%); +30% CER 14 Oct 2026 ↗

Next: interim results with H1 detail · 2 Dec 2026

1. 14 Oct 2026 H1 orders +22% organic; earnings running ahead
2. 24 Jul 2026 Q1 orders +31% organic; guidance now ahead
3. 3 Jun 2026 Q4 orders +14% organic; Q1 started well
4. 17 Apr 2026 Q4 orders +15% organically; Controls up three quarters