StockMarketWire.com - Technical product supplier Diploma slightly 'topped' its expectations as revenue rose by double-digit percentage for the half year, but the company also said it was seeing some 'early signs' slower activity in its industrial seals segment.


For the six months to the end of March, profit before tax rose 13% to £40.1m, while revenue rose 11% to £260.4m, compared to the same period a year ago. The company in March said it expected first-half reported revenues to grow 10%.

The company also said it remained on track to meet expectations, though did concede that its industrial seals segment was showing 'early signs' of slower activity.

'The Canadian Surgical and Endoscopy businesses and the Clinical Diagnostic business in Australia made particularly strong contributions to revenues,' the company said

'In the Seals Sector, reported revenues increased by 3%, up 4% on an underlying basis, driven by strong trading in the International Seals businesses where underlying revenues increased by 9% against the comparable period last year.'


 'Diploma has delivered another good performance in line with our expectations. Despite macroeconomic uncertainties, the Group remains on track to deliver good growth in revenues with modest margin progression for the full year,' said Johnny Thomson, Diploma's Chief Executive Officer.




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