Diploma delivers double-digit growth
Continued strength at its seals business helped Diploma post revenue in line with company expectations for the year.
Continued strength at its seals business helped Diploma post revenue in line with company expectations for the year.
Revenue in seals, which supplies components and kits for heavy machinery and industrial equipment, hydraulic seals, gaskets and cylinders, climbed 13% after particularly strong from its North American aftermarket.
Its life sciences division contributed 5% to the group performance after good sales of capital equipment in first half. The controls businesses saw 2% growth after it was held back by reduced activity in Continental Europe and UK Food & Beverage.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Group pre-tax profit rose 17% to £46m in the year ended September 30th while revenue increased 13% to £260.2m. Adjusted pre-tax profit climbed 17% to £52.6m.
Underlining its confidence in future trading, the full year dividend has been increased 20% to 14.4p.
The specialised technical products and services provider has net funds of £7.9m.
Chief Executive Bruce Thompson said: "Diploma has delivered another year of strong double-digit growth in revenues and profits, by a combination of 'GDP plus' levels of organic growth and contributions from a number of good quality, value-enhancing acquisitions."
"During the year, we have also made significant progress in making the investments in the facilities, IT systems and management resources needed to lay the robust foundation for continued growth in the next five year period."
"The group is well placed to make further progress during the new financial year."
CJ
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
8 of the best houses for sale with tennis courts
The best houses for sale with tennis courts – from a period property in Dumfries and Galloway with two islands on the River Dee, to a house in Cumbria with a 1977 En Tout Cas tennis court
-
Review: Eden Roc Cap Cana – fun, sun and golf in the Caribbean
Travel Eden Roc Cap Cana in the Dominican Republic offers everything from relaxing by the pool to a world-class golf course