StockMarketWire.com - Diploma said it continued to trade well in the second half of the year and it remained on track to report results for the full year in line with expectations.

An update said that reported group revenues for the year ending 30 September were expected to increase by ca. 17%.

It said the addition to revenues from the depreciation in UK sterling would be ca. 9% and acquisitions completed during the last twelve months were expected to contribute ca. 2%, net of a small prior year disposal.

On an underlying basis, after adjusting for the impact of acquisitions and currency effects, group revenues for the year were expected to increase by ca. 6%.

The update continued: "The group has a robust balance sheet and a proven track record of strong cash generation which the group continues to reinvest in acquiring new businesses to accelerate growth.

"At 30 September 2017, the group's net cash funds are expected to be in excess of £20m and the group retains access to a £60m revolving credit facility."

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