The supply of semiconductors is “gradually improving” following several years of trickling quantities and rampant demand, British electronic components manufacturer DiscoverIE said today.
Bosses within the semiconductor industry have described the chips market as cyclical, with ebbs and flows of over-and-under supply.
The London-listed group, which relies heavily on semiconductors, said that despite supplies remaining “constrained”, its orderbook increased to yet another record size of £257m in the six months to 30 September, up from £224m as of the end of March this year.
The figure is more than 20 per cent higher than a year ago organically. During the second half, the orderbook level is expected to “begin to normalise”, the company said in a statement this morning, as it converts into sales.
The company added that it was on track to deliver full year underlying earnings in line with the board’s expectations.
Group sales grew a little over a quarter on a reported basis, led by sales in the magnetics and controls arm and the sensing and connectivity division.