Diploma shares up as raises annual guidance after strong third-quarter
Diploma PLC on Thursday raised its guidance for the financial year that ends in September, as the London-based technical products and services provider reported a strong third quarter.
Diploma shares were up 7.6% to 5,277.50 pence early Thursday in London. They were the best performers in the FTSE 100 index, itself up 0.5%.
Diploma said it has seen double-digit growth so far in its financial year. Diploma said revenue rose 12% on-year in the nine months to June 30, or 10% on an organic basis. Diploma now expects full-year organic growth of 10%, its guidance lifted from 8%.
The company noted it recently spent £39 million on two acquisitions. In Denmark, it purchased Haagensen AS to add to its M-Seals business. Domestically, it bought Alpha Laboratories, a life sciences firm that brings Diploma in to the in vitro diagnostics market in the UK.
Diploma will release its full-year results on November 18.
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