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Technical products and services business Diploma hiked its dividend after reporting a jump in annual profit, driven by a boost from acquisitions including Windy City Wire.
For the year ended 30 September 2021, pre-tax profit jumped to £96.6 million from £66.7 million as revenue increased 46% to £787.4 million.
The revenue growth included a 'very pleasing contribution from acquisitions, particularly Windy City Wire,' the company said.
The company recommended a 51% increase in the final dividend to 30.1 pence, taking the total dividend for the year to 42.6 pence, up from 30.0 pence.
'We entered FY 2022 with good momentum and a positive outlook. For the year ahead, we expect to deliver another strong performance with ca. 10% reported revenue growth including mid single-digit underlying revenue growth, consistent with our model and H1 weighted; and an adjusted operating margin between 18% and 19%,' the company said.