15th May 2023 10:07
(Alliance News) - Diploma PLC on Monday reported higher pretax profit and revenue growth in its half-year, and predicted a higher organic revenue growth for the full year.
Diploma is a London-based company that supplies specialised technical products and services. It is a constituent of the FTSE 250.
Diploma said that it achieved revenue growth of 30% in the six months ended March 31, with revenue increasing to GBP582.8 million from GBP448.5 million last year.
Diploma said that its pretax profit increased by 41% to GBP78.7 million from GBP52.3 million a year ago.
The company said that it expects organic revenue growth of around 7% for the full year, and a further 7% growth from acquisitions and net of disposals. This growth derived from sustained double-digit growth at Windy City Wire, which delivered organic growth of 10%, the company said.
Diploma declared an interim share of 16.5 pence compared to 15.0p the year before, an increase of 10%.
"I thank all my brilliant Diploma colleagues for their dedication to consistently improving our businesses and to delivering great service to our customers. We have had an excellent first half," Diploma's Chief Executive Johnny Thomson said.
"We also welcome eight great new businesses which will help drive that future organic growth, while incrementally investing in scaling the businesses and our group."
Diploma was trading at 2.4% higher at 2,918.00 pence in London on Monday morning.
By Will Neill, Alliance News reporter
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