Diploma increases its 2016 interim dividend by 7%

DividendMax Ltd.

Diploma increases its 2016 interim dividend by 7%

Financial Highlights

Revenue increased by 10%; businesses acquired contributed 9% and underlying revenue increased by 2%.

Adjusted operating margin reduced to 17.2% reflecting continuing transactional currency effects in Healthcare and initial dilution from acquired businesses.

Adjusted profit before tax increased by 4% to £30.4m; adjusted EPS increased by 5% to 19.5p, helped by slightly lower tax rate.

Free cash flow increased by 85% to £23.0m, benefitting from lower investment in working capital and £2.3mfrom sale of legacy properties.

Acquisition expenditure of ca. £30m in first half (over £80m since January 2014).

Strong financial position; net debt of £17.8m at the end of March 2016 with significant resources available.

Interim dividend increased by 7% to 6.2p per share reflecting confidence in Group's growth prospects.

Companies mentioned