The company, which makes products including instrumentation, seals, gaskets, fasteners and wire and cable, said that revenue was up 8% at constant currency rates and adjusting for acquisitions.
Diploma makes about a third of its revenue in the life sciences sector, slightly more from seals, and slightly less from controls. Over half the revenue is made in
Life sciences revenue was up 8% at constant currencies and excluding acquisitions, boosted by strong revenues from consumable and service products, which offset weaker capital revenues. Seals revenue was up 6% due a better performance in the US aftermarket segment and continued growth in its industrial original equipment manufacturer business. Controls revenue was up 9%, although Diploma noted that the rate of growth had slowed in certain market segments.
The company acquired
It said that operating margins "generally" remained robust, despite weakening margins at its healthcare business as existing currency hedging contracts expired and were replaced by more expensive contracts.
Diploma's net cash as at
Diploma expects to announce its full year results
Shares in Diploma were trading up 2.2% at
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