Earnings release
Page 1
NEWSRELEASE DIPLOMA PLC FOR IMMEDIATE RELEASE STRONG TRADING AND THREE HIGH QUALITY BOLT - ON ACQUISITIONS IN Q1 Diploma PLC , the international group supplying specialised products and services , is today issuing its first quarter trading update in respect of the year ending 30 September 2021 , ahead of the Company's closed door AGM today at 12.00 , midday . Sector performance Life Sciences Group Diploma has made a strong start to the year with improved trends in underlying trading across all of the Group's three Sectors in the first quarter . The Group delivered underlying revenues in line with last year's pre - Covid comparative , reflecting strong execution of our organic growth initiatives . Reported Group revenues in the first quarter ended 31 December 2020 increased by 24 % over the comparable period , driven by an excellent first quarter contribution from Windy City Wire ( WCW ) which is trading very well following a smooth transition into the Group . Seals Seals The following table sets out the year - on - year revenue performance by Sector for Q1 alongside a reminder of the exit rates reported for September 2020 : Controls DIPLOMA PLC Group Life Sciences FIRST QUARTER TRADING UPDATE 12 CHARTERHOUSE SQUARE , LONDON EC1M 6AX TELEPHONE : +44 ( 0 ) 20 7549 5700 FACSIMILE : +44 ( 0 ) 20 7549 5715 Underlying Reported Underlying Reported 20 January 2021 Underlying Reported Underlying Reported Q1 + 8 % + 10 % -2 % -0 % -1 % + 71 % + 0 % + 24 % Sept 20 + 2 % -4 % -18 % -7 % Life Sciences delivered strong underlying growth of 8 % , driven by an encouraging performance in consumables in both clinical diagnostics and specialty surgical equipment in Australia and Canada , as well as higher than normal levels of capital installations due to pent up demand from last year's lockdowns . In Q2 , we expect growth rates to moderate with lockdowns in Canada impacting capital sales and surgical procedures . However , the Sector remains well positioned to capitalise on the backlog of surgical procedures and lab testing as the year progresses . Seals traded well with underlying revenues improving to -2 % . The Group continues to see strong performances from International Seals due to the diversity of end markets and North American Aftermarket due to continued strong repair shop demand . The North American OEM business has been recovering well in the last two quarters , and we are confident in its prospects under a www.diplomaplc.com REGISTERED IN ENGLAND . NUMBER 3899848 . 12 CHARTERHOUSE SQUARE , LONDON EC1M 6AX .