Diploma PLC - Trading Statement
12 CHARTERHOUSE SQUARE, LONDON EC1M 6AX
TELEPHONE: +44 (0)20 7549 5700
FACSIMILE: +44 (0)20 7549 5715
FOR IMMEDIATE RELEASE
FIRST QUARTER TRADING UPDATE
POSITIVE TRADING IN LINE WITH EXPECTATIONS
The Group has made a positive start to the year with overall trading in line with expectations.
Life Sciences Sector revenues on a reported and underlying basis were up 2% and 3% respectively, with revenues being held back by the timing of product delivered to customers. We expect that these revenues will be recovered in the second fiscal quarter. Seals Sector reported revenues were up 18%, which included a strong contribution from businesses acquired last year, in particular VSP Technologies. Underlying revenues were marginally ahead of the comparable period reflecting challenging industrial markets in both North America and Europe. Controls Sector revenues on a reported and underlying basis were up 3% and 4% respectively and included another strong contribution from Clarendon Specialty Fasteners.
The Group invested a further ca.
Our expectations for the full year remain positive and unchanged.
1. This trading update is based upon unaudited management accounts and has been prepared solely to provide additional information on trading to the shareholders of
3. A copy of this Statement, together with further information about
Johnny Thomson, Chief Executive Officer
+44 (0)20 7549 5700
Nigel Lingwood, Group Finance Director
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+44 (0)20 7353 4200
NOTE TO EDITORS:
Diploma's businesses are focussed on supplying essential products and services which are funded by the customers' operating rather than their capital budgets, providing recurring income and stable revenue growth.
Our businesses then design their individual business models to closely meet the requirements of their customers, offering a blend of high quality customer service, deep technical support and value adding activities. By supplying essential solutions, not just products, we build strong long term relationships with our customers and suppliers, which support attractive and sustainable margins.
Finally we encourage an entrepreneurial culture in our businesses through our decentralised management structure. We want our managers to feel that they have the freedom to run their own businesses, while being able to draw on the support and resources of a larger group. These essential values ensure that decisions are made close to the customer and that the businesses are agile and responsive to changes in the market and the competitive environment.
The Group employs ca. 2,100 employees and its principal operating businesses are located in the UK, Northern Europe, North America and Australia.
Over the last ten years, the Group has grown adjusted earnings per share at an average of ca. 16% p.a. through a combination of underlying growth and acquisitions. Diploma is a member of the FTSE 250 with a market capitalisation of ca.
Further information on
This information is provided by RNS, the news service of the
Quick facts: Diploma PLC
Market Cap: £1.75 billion
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