Technical product business Diploma reported its first half results on Wednesday, with revenues coming in ahead of expectations.
Group revenues were 8 percent ahead of the comparable period, and 12 percent ahead at constant exchange rates. Revenues were even stronger in the life sciences division, up 16 precent or 8 percent on an underlying basis.
Abacus dx, the Australian diagnostic business that Diploma acquired in April last year, made a strong positive contribution to the results. Its seals sector also reported that revenues were expected to increase by 4 percent after strong trading activity in its North American businesses.
Underlying revenues grew by 3 percent in the first half, despite weak performances in Russia and Australia, with revenues rising 6 percent in its controls sector.
The firm said adjusted operating margin remains in line with the comparable period last year.
Shares in Diploma (LON:DPLM) are currently trading up 0.89 percent at 1,109.00 (0913GMT).
