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discoverIE Group PLC prepared to quickly mitigate the effects of the coronavirus pandemic

The group benefits from a sturdy and diversified customer base, and demand from customers continues to be sturdy with very good new buy consumption in March but it has noticed a little bit of disruption to its small business of late

discoverIE Group PLC (), the customised electronics maker, said it is effectively ready to immediately mitigate any disruption from the unfold of the coronavirus.

The group said that the current monetary yr, which operates to the finish of March, had noticed sturdy momentum all over the yr but noticed some isolated disruption to the small business in the fourth quarter as a end result of the outbreak of the virus.

The broader opportunity impacts of the pandemic on buying and selling are difficult to forecast but the group reassured shareholders that it continues to be effectively funded, with a sturdy stability sheet, very good dollars liquidity and a lot more than £100mln of headroom from its debt facilities.

The group operates two producing facilities in China’s Guangdong province and also has a variety of Chinese suppliers and prospects. Pursuing an prolonged shut-down immediately after the Chinese New Yr, the facilities are again operational, with generation returning to prepared levels. Equally, its Chinese suppliers have recommenced functions and income to DiscoverIE’s prospects are returning to regular levels, with demand from customers recovering immediately.

The group’s Structure & Manufacturing division operates a diversified and versatile producing footprint with more facilities in India, Sri Lanka, Thailand, South Korea, Poland, Slovakia, the Netherlands, Belgium, Uk, Germany, the Nordic region, Mexico, US and Canada, all of which are at the moment operating devoid of main disruption. All of the corporations have detailed small business continuity plans and are preserving operational continuity.