Industrial parts supplier Diploma eyes more deals following growth
Diploma saw hefty revenue and profit growth in the six months to 31 March, and as a result expects its full year results to be “significantly ahead of our previous expectations”.
The industrial firm, which provides specialist products to the life sciences sector, saw revenue of £365.2m in the first half of its financial year, up 29 per cent on the same period a year ago.
Its operating profit stood at £66.6m, up 33 per cent on the previous year.
The business said it had enjoyed “exceptional performance” from acquisitions made during the time, and that it had an active “pipeline of opportunities” going forward.
Acquisitions in the period contributed to 29 per cent to reported revenue growth.
CEO Johnny Thomas said: “We continue to execute our strategy of building high quality scalable business for organic growth. I am pleased with the exceptional contribution of our acquisitions in the period, particularly Windy City Wire.
“Delivering value responsibly – our ESG agenda – is core to our strategy and we are intensifying our activities.”