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Diploma PLC on Wednesday said it has maintained business momentum in its new financial year, and it anticipates further revenue growth ahead. London-based supplier of specialised technical products and services said in its first financial quarter to December 31, performance was in line with its own expectations. Diploma said organic revenue grew 6% year-on-year. Reported revenue was up 10%. This included an 8% contribution from acquisitions, offset by a 4% hit from currency movements. Three acquisitions in the first quarter for a total of £9.5 million drove ‘strong return on capital’, Diploma said. For the financial year ending September 30, Diploma expects organic revenue growth of about 5%, with acquisitions to date adding about 6% to reported revenue growth. It expects a ‘strong’ operating margin in line with financial 2023 at 19.7%. Diploma shares were down 1.8% to 3,278.00 pence each on Wednesday morning in London. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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