Profits jump at Diploma
Diploma, the specialised technical products and services provider, has seen a 47% rise in pre-tax profit after revenues also soared during the full year ended 30 September.
Diploma, the specialised technical products and services provider, has seen a 47% rise in pre-tax profit after revenues also soared during the full year ended 30 September.
Revenue rose 26% from £183.5m to £230.6m as businesses benefitted from strong demand and a good contribution from acquisitions; adjusted profit before tax up 39% to £44.9m.
Profit before tax rose from £26.7m to £39.2m, equivalent to earnings per share of 24p, up from 19.1p the previous year.
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
Bruce Thompson, Diploma's chief executive said: "It has been an excellent year for Diploma with group revenues increasing by 26% and adjusted profits up 39%, with all of our sectors reporting strong double digit underlying increases.
"Although global economic uncertainty continues, we see good opportunities for future development, both organically and through carefully selected, value adding acquisitions.
"The group has a strong balance sheet and is well diversified by geography and business area. The board has confidence that further progress will be made in the new financial year."
The firm has recommended a 37% increase in the final dividend from 6.2p to 8.5p.
The share price rose 2.55% to 310p to 08:21.
NR
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.
-
What is Rachel Reeves’s plan for growth?
The UK’s modern industrial strategy was published this week. How does chancellor Rachel Reeves hope it will grow the UK economy, and how successful will it be?
-
The best cities to live in for quality of life, salary and rent
The best city to live in is difficult to determine, but using myriad measurements it looks like it is certainly not London or New York. We find out what it is.