Diploma Plc (DPLM.L) on Tuesday posted higher profit in the first half of the year, helped by a 14 percent rise in revenues. The company also lifted its interim dividend from last year.
For the first six months, the UK-based electronics & services business posted pre-tax profit of 122.3 million pounds, higher than last year's 77.8 million pounds. Adjusted pre-tax profit was 142.8 million pounds from 115.2 million pounds in the same period of fiscal 2024.
Profit for the period rose to 96.1 million pounds or 71.2 pence per share from last year's 58.1 million pounds or 43.0 pence per share. On an adjusted basis, profit came in at 107.8 million pounds or 79.8 pence per share, compared to 87.6 million pounds or 64.9 pence per share a year ago.
Half-yearly revenues climbed 14 percent to 728.5 million pounds from 638.3 million pounds in the previous-year period. Operating profit for the first six months of the year was 139.4 million, higher than 88.0 million pounds recorded in the prior-year period.
The company said that for the first six months, it declared an interim dividend of 18.2 pence per share, higher than 17.3 pence per share paid for the same period last year.
The interim dividend will be paid on June 13 to shareholders on the register on May 30. Shares will trade ex-dividend from May 29, Diploma Plc added.
Looking ahead, the company lifted its fiscal 2025 outlook. It now expects organic growth of 8 percent, higher than the earlier 6 percent. Adjusted operating margins are now expected around 22 percent, up from the earlier 21 percent.
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