Diploma PLC (DPLM) Q2 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:02.014 Good morning, everyone. Thanks for joining. 00:00:02.014 -- 00:00:07.080 Great to have you with us today. I'm here as usual with our CFO, Wilson Ung. 00:00:07.080 -- 00:00:09.383 I'm going to start with an overview of performance. 00:00:09.383 -- 00:00:14.189 Wilson will take you through the numbers, and then I'll come back to talk about strategy 00:00:14.189 -- 00:00:15.751 and the businesses. 00:00:15.751 -- 00:00:18.896 Questions as usual at the end. 00:00:18.896 -- 00:00:21.256 Let's get started. 00:00:22.600 -- 00:00:24.871 It's been a great first half. 00:00:24.871 -- 00:00:29.757 We've delivered a very strong performance across all our key financial metrics, building 00:00:29.757 -- 00:00:33.582 on our long-term compounding track record. 00:00:33.582 -- 00:00:38.888 We balance ambitious earnings growth, 36% in the half, with disciplined 00:00:38.888 -- 00:00:44.135 returns, 23% in the half, and together, key to sustainable 00:00:44.135 -- 00:00:46.816 compounding success. 00:00:46.978 -- 00:00:52.006 The quality and diversity of our portfolio gives us exposure to attractive end markets, 00:00:52.006 -- 00:00:56.413 which supports structural long-term organic growth, 15.5% 00:00:56.413 -- 00:00:58.196 and 10% 00:00:58.196 -- 00:01:04.507 on average over the last five years. It also gives us resilience in uncertain times. 00:01:04.507 -- 00:01:08.493 We accelerate organic growth with targeted acquisitions. 00:01:08.493 -- 00:01:14.283 We've done 15 deals in the last 12 months, including seven since we updated at Q1. 00:01:14.283 -- 00:01:18.854 The pipeline remains healthy with plenty of balance sheet capacity. 00:01:18.854 -- 00:01:24.401 We're upgrading guidance again today, adding a further 6%, meaning expected 00:01:24.401...