StockMarketWire.com - Diploma said revenue in its fiscal first quarter increased by 9% on-year, in line with expectations, as strong growth at its seals sector was offset by a more subdued performance at its life sciences business.

Life sciences sector revenues on a reported and underlying basis were up 2% and 3% respectively, with growth held back by the timing of product delivered to customers, the company said.

These revenues, however, were expected to be recovered in the second quarter.

The seals sector reported revenues up 18%, which included a strong contribution from businesses acquired last year, in particular VSP Technologies.

The controls sector, meanwhile, reported and underlying revenues rose 3% and 4%, respectively.

'Our expectations for the full year remain positive and unchanged,' Diploma said.

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