Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Diploma PLC on Wednesday said it has maintained business momentum in its new financial year, and it anticipates further revenue growth ahead.
London-based supplier of specialised technical products and services said in its first financial quarter to December 31, performance was in line with its own expectations.
Diploma said organic revenue grew 6% year-on-year. Reported revenue was up 10%. This included an 8% contribution from acquisitions, offset by a 4% hit from currency movements.
Three acquisitions in the first quarter for a total of £9.5 million drove ‘strong return on capital’, Diploma said.
For the financial year ending September 30, Diploma expects organic revenue growth of about 5%, with acquisitions to date adding about 6% to reported revenue growth. It expects a ‘strong’ operating margin in line with financial 2023 at 19.7%.
Diploma shares were down 1.8% to 3,278.00 pence each on Wednesday morning in London.
Copyright 2024 Alliance News Ltd. All Rights Reserved.