Diploma lifts FY guidance as acquisitions boost interims

(Sharecast News) - Specialist distribution business Diploma on Monday lifted annual guidance after a 17% rise in adjusted earnings, boosted by acquisitions. It now expects constant currency revenue growth of around 16%, up 5 percentage points from previous guidance, made up of 6% organic revenue growth and 10% from acquisitions. It also forecast a 15% rise in EPS.

Adjusted pre-tax profit came in at £115.2m in the six months to March 31, while revenue jumped 10% to £638.3m led by volume growth across its controls, seals and life sciences operations. Shareholders were rewarded with a 5% uplift in the interim dividend to 17.3p a share.

Reporting by Frank Prenesti for Sharecast.com