Diploma PLC H1 Adj. Operating Profit Rises; Underlying Revenue Growth At 16%

Diploma PLC (DPLM.L) said it delivered double-digit underlying growth at high teens margins for the six months ended 31 March 2022. Looking forward, the Group said the second half has started well, and it is confident in the materially upgraded guidance provided in April.

First half adjusted operating profit increased 24% to 82.5 million pounds. Adjusted operating margin was up 20 basis points to 18.4%. Adjusted earnings per share was 47.0 pence compared to 38.4 pence.

Profit before tax increased to 52.3 million pounds from 42.5 million pounds, previous year. Earnings per share was 28.5 pence compared to 25.4 pence.

Revenues were up 23% to 448.5 million pounds from 365.2 million pounds, prior year. Underlying growth was 16%, driven by revenue diversification initiatives, positive demand and pricing, the Group said.

The Directors have declared a 20% increase in the interim dividend to 15.0 pence per share. The dividend is payable on 10 June 2022 to shareholders on the register on 27 May 2022.

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