24th Mar 2021 09:58
(Alliance News) - Diploma PLC on Wednesday said it expects its first half revenue to hit pre-Covid-19 levels.
The London-based seal and cables maker said underlying revenue in the six months to March 31 "to be in line with the pre-Covid prior year period". It has seen "good progress" across its three units.
On a reported basis, revenue is tipped to rise 27%. It reported GBP283.6 million in the first half of the last financial year.
Operating margins are expected to be inside the target range of 17%-18%, Diploma added.
"We continue to make progress with initiatives to drive organic growth, broadening and diversifying our businesses for scale in our core products and markets," Diploma sad.
"For the full year, the strong trading performance is expected to offset the foreign exchange impact from the strengthening of sterling. Our expectations for the full year remain positive and unchanged."
Diploma shares were 1.1% higher at 2,562.96 pence each in London on Wednesday morning.
By Eric Cunha; [email protected]
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