25th Sep 2007 07:01
Diploma PLC25 September 2007 12 CHARTERHOUSE SQUARE, LONDON EC1M 6AX TELEPHONE: +44 (0)20 7549 5700 FACSIMILE: +44 (0)20 7549 5715 FOR IMMEDIATE RELEASE 25 September 2007 TRADING UPDATE Diploma PLC, the specialised international distribution group, is today giving a trading update, ahead of entering into close period for the Company's results for the year ending 30 September 2007. The Group expects to report results for the full year ending 30 September 2007 which will both demonstrate further progress and be slightly ahead of market expectations. The Life Science businesses have continued to experience modest underlying growth with the contribution from CBISS, acquired in October last year, more than off-setting the negative impact on translation of the weaker Canadian dollar. The Seals businesses, predominantly based in North America, have traded strongly in the second half of the year and will show good underlying growth for the full year. However, the negative impact on translation of a weak US$ will hold performance in sterling terms at similar levels to last year. The Controls businesses continued to trade well in the second half of the year and will show strong growth for the full year. The three acquisitions completed in August of this year fit well with the strategy of building more substantial, broader-based businesses in our three core sectors and are expected to make a strong contribution to the Group's results in 2008. It is expected that the Preliminary Results for the year ended 30 September 2007 will be announced on Monday, 26 November 2007. There will be an analyst presentation of the results at the offices of Bankside Consultants Limited, 1 Frederick's Place, London, EC2R 8AE, at 9.00 am on that day. For further information, please contact: Bruce Thompson, Chief Executive Officer 020 7549 5700 Nigel Lingwood, Group Finance Director 020 7549 5705 Ian Seaton, Bankside Consultants 020 7367 8891 NOTE TO EDITORS: Diploma PLC is an international group of specialised distribution businessesoperating in three sectors: Life Sciences - suppliers of consumables, instrumentation and related servicesto research, environmental and clinical applications. Principal companies areAnachem, a1-envirosciences and CBISS in Europe and Somagen and AMT Vantage inCanada. Seals - Suppliers of hydraulic seals, gaskets, cylinders and attachment kits forheavy mobile machinery. Principal companies are Hercules Bulldog SealingProducts and HKX in North America and FPE and M Seals in Europe. Controls - Suppliers of specialised wiring, connectors, control devices andfasteners for a range of technically demanding applications. Principal companiesare IS Group in the UK and US, Sommer Filcon in Germany and Hawco in the UK. Within each of these sectors, the Diploma businesses serve industry segmentswith long term growth potential and with the opportunity for sustainablesuperior margins through the quality of customer service, depth of technicalsupport and value adding activities. In August 2007 Diploma PLC completed three acquisitions, which are allcomplementary with the existing businesses, for a maximum aggregateconsideration of £27.2m. These acquisitions comprised AMT Vantage Holdings, aleading distributor of speciality electrosurgery and endoscopy equipment andrelated consumables operating in Canada; Cabletec, a supplier of wiring andconnector products to the aerospace, defence and commercial electronicindustries; and M Seals A/S, a distributor of industrial seals based in Denmark. Further information on Diploma PLC can be found at www.diplomaplc.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Diploma