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Diploma delivers 'very strong' Q1 performance
(Sharecast News) - Value-added services provider Diploma said on Wednesday that it had delivered a "very strong Q1 performance", with organic revenues growing 14% during the period.
As a result, Diploma maintained its full-year guidance for organic revenue growth at 6% and margins at approximately 22.5%, while hiking net acquisition growth guidance to 3%. Additionally, it noted that organic growth guidance was "significantly weighted to H1".
The FTSE 100-listed firm also stated it had completed four acquisitions for approximately £75m in the three months ended 31 December, increasing its presence in aerospace fasteners, aftermarket offerings, and machining capabilities.
Overall, Diploma said eight deals have been completed in the last two quarters for around £130m, giving annualised operating profits an expected £20m boost.
Reporting by Iain Gilbert at Sharecast.com
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