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.
Story provided by StockMarketWire.com
Shares Magazine
Shares is the leading weekly publication for retail investors. It is packed with investment ideas, news and educational material to help build and run portfolios and get more from your money.
Investor Events
Shares puts on free Investor Events throughout the year across the country. They provide an opportunity for investors to learn more about companies on the stock market and hear from a range of investment experts including fund managers and Shares journalists.