Diploma PLC
25 September 2007
12 CHARTERHOUSE SQUARE, LONDON EC1M 6AX
TELEPHONE: +44 (0)20 7549 5700
FACSIMILE: +44 (0)20 7549 5715
FOR IMMEDIATE RELEASE
25 September 2007
TRADING UPDATE
Diploma PLC, the specialised international distribution group, is today
giving a trading update, ahead of entering into close period for the
Company's results for the year ending 30 September 2007.
The Group expects to report results for the full year ending 30 September
2007 which will both demonstrate further progress and be slightly ahead of
market expectations.
The Life Science businesses have continued to experience modest underlying
growth with the contribution from CBISS, acquired in October last year, more
than off-setting the negative impact on translation of the weaker Canadian
dollar. The Seals businesses, predominantly based in North America, have
traded strongly in the second half of the year and will show good underlying
growth for the full year. However, the negative impact on translation of a
weak US$ will hold performance in sterling terms at similar levels to last
year. The Controls businesses continued to trade well in the second half of
the year and will show strong growth for the full year.
The three acquisitions completed in August of this year fit well with the
strategy of building more substantial, broader-based businesses in our three
core sectors and are expected to make a strong contribution to the Group's
results in 2008.
It is expected that the Preliminary Results for the year ended 30 September
2007 will be announced on Monday, 26 November 2007. There will be an analyst
presentation of the results at the offices of Bankside Consultants Limited,
1 Frederick's Place, London, EC2R 8AE, at 9.00 am on that day.
For further information, please contact:
Bruce Thompson, Chief Executive Officer 020 7549 5700
Nigel Lingwood, Group Finance Director 020 7549 5705
Ian Seaton, Bankside Consultants 020 7367 8891
NOTE TO EDITORS:
Diploma PLC is an international group of specialised distribution businesses
operating in three sectors:
Life Sciences - suppliers of consumables, instrumentation and related services
to research, environmental and clinical applications. Principal companies are
Anachem, a1-envirosciences and CBISS in Europe and Somagen and AMT Vantage in
Canada.
Seals - Suppliers of hydraulic seals, gaskets, cylinders and attachment kits for
heavy mobile machinery. Principal companies are Hercules Bulldog Sealing
Products and HKX in North America and FPE and M Seals in Europe.
Controls - Suppliers of specialised wiring, connectors, control devices and
fasteners for a range of technically demanding applications. Principal companies
are IS Group in the UK and US, Sommer Filcon in Germany and Hawco in the UK.
Within each of these sectors, the Diploma businesses serve industry segments
with long term growth potential and with the opportunity for sustainable
superior margins through the quality of customer service, depth of technical
support and value adding activities.
In August 2007 Diploma PLC completed three acquisitions, which are all
complementary with the existing businesses, for a maximum aggregate
consideration of £27.2m. These acquisitions comprised AMT Vantage Holdings, a
leading distributor of speciality electrosurgery and endoscopy equipment and
related consumables operating in Canada; Cabletec, a supplier of wiring and
connector products to the aerospace, defence and commercial electronic
industries; and M Seals A/S, a distributor of industrial seals based in Denmark.
Further information on Diploma PLC can be found at www.diplomaplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.