Diploma on track to deliver 'strong' underlying growth; expects revenues to grow 13%

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Diploma said it was on track to deliver 'strong' underlying growth for the full-year, forecasting annual revenues to grow by 13% amid positive contributions from acquisitions and modest margin progression.

For the year ended 30 September, the company said it expected to report revenues grew by about 13%, comprising underlying revenue growth of about 5% with acquisitions contribution 6%, and a weaker pound contribution 2%.

Operating margin was expected to be modestly ahead of last year, benefitting from tight control of costs and operating leverage from growth in revenues, the company said.

'Diploma continues to have a good year. We are on track to deliver strong underlying growth with positive contributions from acquisitions and modest margin progression,' said Johnny Thomson, Group Chief Executive Officer.

'We are delighted to welcome VSP into the Group - a great business and an excellent strategic fit.'

The group's results for the year ending 30 September 2019 would be announced on 18 November 2019.


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