Diploma reports solid first-quarter performance

Diploma reported a robust first-quarter performance on Wednesday, with reported revenue growth of 12% for the three months ended 31 December.

The FTSE 100 company said organic revenue growth reached 7%, while acquisitions contributed an additional 7%, partially offset by a 2% negative impact from foreign exchange.

It noted that underlying trends across its sectors remained consistent with the prior year, while operating margins were strong, aligning with expectations.

Full-year guidance remained unchanged, with projections for 6% organic revenue growth, 2% net acquisition growth, and an operating margin of around 21%.

Diploma said its next update would be its half-year results on 20 May.

At 1050 GMT, shares in Diploma were up 3.67% at 4,323p.

Reporting by Josh White for Sharecast.com.