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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.
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- 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.”
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