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News Archive (2007 - 2011)

10 May 2010

Announcement of Interim Results for the six months ended
31 March 2010

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The full results are available to download in PDF format

 

  Unaudited Unaudited Audited
  Six months ended
31 March 2010		 Six months ended
31 March
2009		 Year
ended
30 Sept
 2009
  £m £m £m
Revenue 86.2 80.3 160.0
Operating profit(1) 14.6 11.9 25.6
Operating margin(1) 16.9%    14.8%   16.0%
Adjusted profit before tax(1),(2),(3) 14.6 12.0 25.5
Profit before tax 11.3 9.3 20.5
Free cash flow(3) 16.6 6.8 23.5
       
       
  Pence Pence Pence
Adjusted earnings per share(1),(2),(3) 8.4 6.9 14.8
Basic earnings per share 5.7 4.7 10.8
Interim dividend per share 2.8 2.5 7.8
       

The results of the discontinued business of Anachem have been excluded from the analyses presented above.

  1. Before amortisation of acquisition intangible assets
  2. Before fair value remeasurement of put options over shares held by minorities
  3. Alternative performance measures are defined in note 2 to the condensed set of consolidated financial statements

 

  • Revenue increased by 7% with an improving trend into the second quarter.
  • Adjusted profit before tax increased by 22% and benefited from the successful cost reduction programmes implemented during the first half of FY2009.
  • After adjusting for currency effects and acquisitions, underlying revenue and operating profits increased by 4% and 17% respectively.
  • Sale of Anachem MLH and Instruments businesses completed.
  • Free cash flow of £16.6m, including net proceeds of £6.3m on sale of business; cash   funds at 31 March 2010 of £28.4m.
  • Interim dividend increased 12% to 2.8p per share.

 

 Commenting on the results for the period, Bruce Thompson, Diploma’s Chief Executive said:

"The improving trend in trading activity in most of the Group’s market segments continues to gain momentum.  This, together with a more favourable environment for acquisitions, provides the Board with confidence that the Group should continue to make progress in the second half of the year."

 

For further enquiries please contact:  
   
Bruce Thompson, Chief Executive Officer 020 7549 5700
Nigel Lingwood, Group Finance Director 020 7549 5705
Simon Bloomfield, Bankside Consultants 020 7367 8861

 

 

NOTE TO EDITORS:

 

Diploma PLC is an international group of businesses supplying specialised technical products and services to the Life Sciences, Seals and Controls industries.

Diploma achieves stable growth and attractive margins from its focus on supplying specialised technical products to markets which value high levels of customer service, technical support and value adding activities.  A high proportion of revenues are generated from essential products and services funded by operating, rather than capital budgets.

The Group employs ca. 825 employees and its principal operating businesses are located in the UK, Germany, US and Canada.

Over the last five years, the Group has grown adjusted earnings per share at an average of ca. 16% p.a. through a combination of organic growth and acquisitions.  The current market capitalisation is ca. £250m.

 

Further information on Diploma PLC can be found at www.diplomaplc.com

 

 

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