StockMarketWire.com - Diploma said Monday that annual pre-tax profits rose 9% as revenues from recently acquired businesses were offset by a stronger pound.

For the year ended 30 September, profit before tax rose 9% to £72.7m and revenues increased by 7% to £485.1m.

The headwind of a stronger pound reduced revenues by roughly 3% offsetting a 3% boost from acquisitions.

The seals businesses delivered strong underlying revenue growth of 10% and both the Life Sciences and Controls businesses reported a 5% growth in underlying revenues, the company said.

The total dividend was increased by 11% to 25.5p.

'Diploma's trading performance in 2018 was, once again, very strong. The Group delivered another year of double-digit growth in adjusted earnings per share and generated free cash flow of over £60m, said ohn Nicholas, Diploma's Executive Chairman.

'The results demonstrate the resilience of the Group's businesses and the consistent delivery against the Group's strategy which has delivered compound double-digit growth in adjusted earnings per share over the past 10 years.'

'Despite the global macro-economic uncertainty, the Board remains confident that the Group will continue to make further progress in the coming year from a combination of steady "GDP plus" underlying growth and from the Group's proven and value-enhancing acquisition programme.'



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