20th Jan 2016 07:48
LONDON (Alliance News) - Technical products and services company Diploma PLC on Wednesday said revenue rose year-on-year in its first quarter, despite a hit from currency translation, with margins tracking with its expectations.
FTSE 250-listed Diploma said revenue for the quarter to the end of December was up 6.0% and would have increased 11% in constant currencies, with the main boost coming from contributions from acquisitions the group has made.
Life sciences revenue fell 4.0% in the quarter, mostly due to currency translation effects on its healthcare business. Seals revenue, however, rose 22%, driven by acquisition contributions, while controls revenue fell 3.0%.
Diploma said its operating margin is in line with its expectations, though the strength of the dollar is hitting margins in its healthcare business, meaning that overall margins were slightly weaker year-on-year in the quarter.
By Sam Unsted; [email protected]; @SamUAtAlliance
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