Diploma posts 30% jump in 1H sales, raises guidance

(Sharecast News) - Diploma posted a strong set of results for the first half of its financial year. Revenues were up ahead by 30% to £582.8m and by 10% on an organic basis.

It also said that the back half had begun "positively", which led management to raise its full-year guidance.

Full-year organic growth was now pegged to come in at 7%.

That was on top of approximately another 7% rise in sales expected to accrue from acquisitions, net of disposals.

In parallel, the company's leverage was seen declining to below 0.4 times before any acquisition investment.

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