Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

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

Share this article

Related Sharecast Articles

Culture Secretary 'minded to intervene' in Sky-ITV deal
(Sharecast News) - Culture secretary Lisa Nandy on Thursday revealed that she is "minded to intervene" in Sky's proposed takeover of ITV's media and entertainment activities, suggesting possible legislation of the streaming industry may be needed.
AstraZeneca enters into strategic drug discovery deal with AI biotech Insitro
(Sharecast News) - AstraZeneca said on Thursday that it will pay up to $1.86bn to enter a new strategic drug discovery collaboration and licensing agreement with Califiornia-based AI biotech firm Insitro.
Berenberg lifts target price on Discoverie following H1 update
(Sharecast News) - Analysts at Berenberg lifted their target price for DiscoverIE from 1,050p to 1,100p on Thursday, citing sustained organic momentum, a strengthening order book and earnings running ahead of expectations.
Friday preview: Man Group update, eurozone inflation eyed
(Sharecast News) - Friday will mark a fairly quiet end to a busy week that saw the release of a slew of US bank earnings.

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.