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22 Jul 2021 07:00
DIPLOMA PLC
12 CHARTERHOUSE SQUARE, LONDON EC1M 6AX
TELEPHONE: +44 (0)20 7549 5700
22 JULY 2021
DIPLOMA PLC
Q3 TRADING UPDATE
STRONG Q3 - ON TRACK TO MEET OUR FULL YEAR EXPECTATIONS
Diploma PLC, the international group supplying specialised products and services, today issues a trading update for the nine months ended 30 June 2021.
Year to date performance
The Group's performance in the third quarter continued to be strong and in line with expectations. During the first nine months of FY 2021:
· Underlying revenues increased by 11% with very good trading trends in all three Sectors. Underlying revenues are ahead of pre-Covid levels, up 6% over the same period in FY 2019.
· Reported revenue growth was 42%, reflecting a strong contribution from acquisitions. Windy City Wire continues to deliver an excellent performance.
· We continue to focus on managing supply chain pressures and a tightening labour market.
· Our operating margin remains on track with our full year guidance of towards 19%.
Strategy and acquisitions
We continue to execute our strategy of building high quality scalable businesses for organic growth, with the positive performance in the period reflecting our revenue initiatives, a recovery in demand across our end markets, and the contribution from acquisitions. The Group's strong balance sheet provides flexibility for future acquisitions and, while we remain disciplined in our approach, we have an active pipeline of opportunities.
Current trading and outlook
Current trading remains strong. Our full year expectations are positive and unchanged and we remain confident in the Group's long term prospects.
Our next scheduled update will be on 22 November 2021, when we will release full year results for the year ending 30 September 2021.
Enquiries:
Diploma PLC - | +44 (0)20 7549 5700 | |
Johnny Thomson, Chief Executive Officer |
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Barbara Gibbes, Chief Financial Officer Kellie McAvoy, Head of Investor Relations |
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Tulchan Communications - | +44 (0)20 7353 4200 | |
Martin Robinson |
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Olivia Peters |
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Further information on Diploma PLC can be found at www.diplomaplc.com
Notes:
1. This trading update is based upon unaudited management accounts and has been prepared solely to provide additional information on trading to the shareholders of Diploma PLC. It should not be relied on by any other party for other purposes. Certain statements made in this update are forward-looking statements. Such statements have been made by the Directors in good faith using information available up until the date that they approved this Statement. Forward-looking statements should be regarded with caution because of the inherent uncertainties in economic trends and business risks.
2. Diploma PLC uses alternative performance measures as key financial indicators to assess the underlying performance of the Group. All references in this Statement to "underlying" revenues refer to reported results on a constant currency basis, before acquired or disposed businesses (ex-growth basis) and include growth generated by acquisitions under our ownership.
3. A copy of this Statement, together with further information about Diploma PLC, may be viewed on its website at www.diplomaplc.com
LEI: 2138008OGI7VYG8FGR19
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