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Diploma lifts FY revenue growth guidance, shares surge
(Sharecast News) - Diploma surged on Tuesday after lifting its full-year organic revenue growth and operating margin guidance following a strong first half. In results for the six months to the end of March, the company posted a 25% jump in adjusted operating profit to £156.9m, with revenue up 14% to £728.5m. Organic revenue growth was 9%, up from 5% in the same period a year earlier.
For the full year, Diploma now expects organic revenue growth of 8%, up from previous guidance of 6% growth, and operating margin of around 22%, up from 21%.
Chief executive Johnny Thomson said: "The results are very strong. They demonstrate our sustainable quality compounding with excellent earnings growth at fantastic returns on capital. We have a differentiated business model with a well-diversified portfolio of high-quality businesses, allowing us to deliver compounding growth in good times and bad.
"Despite the uncertain environment I feel confident in our ability to deliver on our upgraded guidance this year. And I'm really excited about our longer-term prospects too."
At 0820 BST, the shares were up 13.5% at 4,792p.
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