26th Sep 2013 13:11
LONDON (Alliance News) - Diploma PLC Thursday said it expects higher revenues for the full-year after a strong performance from its division providing services to healthcare and environmental industries, as well as improving underlying growth in its hydraulic seals division.
Diploma, which supplies specialised products and services under its Life Sciences, Seals, and Controls divisions, said it expects its full-year revenues to be about 10% ahead of those reported last year, though underlying revenues are only expected to have increased 4% after adjusting for currency effects and acquisitions.
Diploma said acquisitions remain a key part of its growth strategy and said its acquisition pipeline continues to improve, with good progress being made on advancing acquisition opportunities.
It spent about GBP22.3 million on acquisitions in 2012 on stakes in DSL in Australia, J Royal in the US and Abbeychart in the UK.
Diploma shares were Thursday quoted at 651.8 pence, up 19.3 pence, or 3.1%.
By Samuel Agini; [email protected]; @samuelagini
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