Business
Second Interim Management Sta
Second Interim Management Sta.
About this update from Diploma Plc
[{"type":"text","content":"\n RNS Number : 9498W Diploma PLC 06 August 2009 \n \n12 CHARTERHOUSE SQUARE, LONDON EC1M 6AXTELEPHONE: +44 (0)20 7549 5700FACSIMILE: +44 (0)20 7549 5715\n\n\n\nFOR IMMEDIATE RELEASE\n\n6 August 2009\n\n\nDIPLOMA PLC\n\nSECOND INTERIM MANAGEMENT STATEMENT\nIN RESPECT OF YEAR ENDING 30 SEPTEMBER 2009\n\n\nDiploma PLC, the international group of businesses supplying specialised technical products and services, is today issuing its second Interim Management Statement which relates to the period from 1 April 2009 to date.\n\nTrading\n\nThe Group has continued to demonstrate its resilient characteristics in the face of the weak trading environment. Revenues for the year to date, in UK sterling, are 1% above the comparable period last year, reflecting similar trends to those reported in the first half of the year. The Group continued to benefit from the contributions from the businesses acquired during the year and from the positive impact, on the translation of the results of overseas businesses, of a weaker UK sterling against the comparable period in 2008. Adjusting for currency effects and acquisitions, revenues for the year to date have decreased by 12%. \n\nIn the Life Sciences sector, year to date revenues are 4% ahead of the prior year comparable period, with growth driven principally by the strong performances in the Canadian Healthcare businesses. Revenues from the European businesses continued to be affected by customers delaying capital expenditure, but operating margins are now benefiting from earlier cost reduction initiatives. \n\nThe Seals sector businesses continued to face difficult trading conditions, though with some signs of stability now appearing in the core North American businesses. The European seals businesses have been impacted by the downturn in industrial activity in Continental Europe, but trading conditions in the aftermarket sector have stabilised. Operating margins, though still lower than the prior year, are benefiting from cost reductions initiated earlier in the year in the North American businesses and more recently in Europe. Year to date sector revenues in UK sterling terms remain 16% ahead of last year, but have benefited strongly from currency translation and the acquisition of RTD Seals.\n\nIn the Controls sector, year to date revenues...