Last checked at 8 Jul 2010 14:17
DIPLOMA PLC
12 CHARTERHOUSE SQUARE, LONDON EC1M 6AX
TELEPHONE: +44 (0)20 7549 5700
FACSIMILE: +44 (0)20 7549 5715
FOR IMMEDIATE RELEASE
8 July 2010
DIPLOMA PLC
TRADING UPDATE
Diploma PLC, the international group of businesses supplying specialised technical products and services, is today providing the following update on trading.
The stronger trend in trading activity in most of the Group's market segments has continued during the third quarter ended 30 June 2010. As a consequence, underlying revenues for the nine months ended 30 June 2010, which are after adjusting for currency effects and acquisitions, have now increased by 8% against the comparable period last year. Operating costs have remained under tight control.
In light of these trends, together with a further positive benefit from foreign exchange translation, the Directors now expect the Group's adjusted profit before tax* to be ahead of market consensus expectations of £28.8m.
Further information in support of this update will be provided in the Group's Interim Management Statement which is expected to be issued on Monday, 2 August 2010.
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| Adjusted profit before tax is defined as profit before tax and before the costs of restructuring or rationalisation of operations, the profit or loss relating to the sale of property or business, fair value remeasurements under IAS 32 and IAS 39 in respect of future purchases of minority interests and the amortisation and impairment of acquisition intangible assets. |
| For further enquiries please contact: |
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| Nigel Lingwood, Group Finance Director | 020 7549 5705 |
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. 825 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. 16% p.a. through a combination of organic growth and acquisitions. The current market capitalisation is ca. £250m.
Further information on Diploma PLC can be found at www.diplomaplc.com