Last checked at 27 Sep 2011 07:00
DIPLOMA PLC
12 CHARTERHOUSE SQUARE, LONDON EC1M 6AX
TELEPHONE: +44 (0)20 7549 5700
FACSIMILE: +44 (0)20 7549 5715
FOR IMMEDIATE RELEASE
27 September 2011
DIPLOMA PLC
PRE-CLOSE STATEMENT
YEAR ENDING 30 SEPTEMBER 2011
Diploma PLC, the international group of specialised businesses supplying technical products and services, is today providing the following update on trading for the year ending 30 September 2011.
The Group has continued to trade strongly across each of its sectors in the final quarter of the year. Revenues for the year ending 30 September 2011 are expected to be
ca. 25% ahead of those reported last year. After adjusting for currency effects and acquisitions, underlying revenues for the year are expected to have increased by ca. 16%. With operating margins remaining strong, the full year adjusted profit before tax is likely to be at the top end of market expectations. Net cash will be strongly positive, in line with expectations.
Although general economic uncertainty over the strength of global markets continues, the Board sees good opportunities for future progress and development, both organically and through carefully selected value-enhancing acquisitions, funded by the Group's strong balance sheet and free cash flow.
Bruce Thompson, Group Chief Executive commented:
"We are pleased to report that Diploma's strong performance has continued through the second half, further demonstrating the resilience of the Group's business model. The Group is well diversified by geography and activity with an offer based on essential products and services, generally funded by customers' operating rather than capital budgets, and reinforced by first class technical expertise and customer support."
The Preliminary Results for the year ending 30 September 2011 will be announced on Monday, 21 November 2011. There will be an analyst's presentation of the results at 9.00am, at Haberdashers' Hall, 18 West Smithfield, London, EC1A 9HQ.
For further information, please contact:
Diploma PLC - | +44 (0)20 7549 5700 | |
Bruce Thompson, Chief Executive Officer | ||
Nigel Lingwood, Group Finance Director | ||
Tulchan Communications - | +44 (0)20 7353 4200 | |
David Allchurch | ||
Martin Robinson | ||
NOTE TO EDITORS:
Diploma PLC is an international group of businesses supplying specialised technical products and services to the Life Sciences, Seals and Controls industries.
Diploma achieves stable growth and attractive margins from its focus on supplying specialised technical products to markets which value high levels of customer service, technical support and value adding activities. A high proportion of revenues are generated from essential products and services funded by operating, rather than capital budgets.
The Group employs ca. 850 employees and its principal operating businesses are located in the UK, Germany, US and Canada.
Over the last five years, the Group has grown adjusted earnings per share at an average of ca. 14% p.a. through a combination of organic growth and acquisitions. The current market capitalisation is ca. £330m.
Further information on Diploma PLC can be found at www.diplomaplc.com