Last checked at 29 Mar 2010 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
29 March 2010
DIPLOMA PLC
TRADING UPDATE
Diploma PLC, the international group of businesses supplying specialised technical products and services, is today issuing a trading update, ahead of going into close period at 31 March 2010.
As reported in the Company's last Interim Management Statement, the Group's key markets have stabilised and there are now signs of an underlying increase in trading activity across most market segments. As a consequence, on an underlying basis, adjusting for currency effects and the acquisition of RTD Seals in January 2009, revenues for the first half of the year are likely to be ca. 2% up on the comparable period last year.
Operating margins have also continued to benefit from cost reductions implemented in the first half of the 2009 financial year. Adjusted profits before tax for the six months ending 31 March 2010 (as restated for the discontinued business of Anachem) are therefore expected to be significantly ahead of the comparable period last year.
The Group continues to maintain tight control over working capital; cash balances at 31 March 2010 should be in excess of £26.0m.
The Directors will provide an update on trading prospects for the year on Monday, 10 May 2010, as part of their announcement of the Group's results for the six months ended 31 March 2010.
| For further enquiries please contact: |
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| Bruce Thompson, Chief Executive Officer | 020 7549 5700 |
| Nigel Lingwood, Group Finance Director | 020 7549 5705 |
| Simon Bloomfield, Bankside Consultants | 020 7367 8861 |