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
-
Fund flows rose in April but did investors sell in May?ISA season prompted the highest level of inflows into investment funds during April but the mood may have changed in May
-
Pension Scheme Bill: what’s changing and what it means for youThe government’s latest reforms to pensions are designed to make saving for retirement easier and better value for money – but will they leave you better off?
