25th Sep 2019 08:31
(Alliance News) - Technical products supplier Diploma PLC said Wednesday it acquired a brace of firms delivering seals and surgical consumables for a combined GBP15.5 million.
The FTSE 250-listed firm will buy bariatric surgery consumables firm Sphere Surgical Ltd for up to GBP8.0 million, of which GBP6.6 million will be paid as an initial consideration. For the year ended June, Sphere generated GBP1.0 million in pretax profit on revenue of GBP2.8 million.
Diploma will also pay up to GBP7.5 million from DMR Seals, of which GBP6.9 million is an initial consideration. For the year ended April, DMR generated GBP800,000 pretax profit on revenue of GBP3.8 million.
For the year ended September 2018, Diploma generated GBP72.7 million in pretax profit on revenue of GBP485.1 million.
Shares in Diploma were 0.3% higher at 1,673.00 pence in London on Wednesday.
By Ahren Lester; [email protected]
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