Jan 16 Technical products supplier Diploma Plc
reported a 14 percent rise in sales in the first
quarter, boosted by acquisitions.
Excluding acquisitions and currency effects, sales increased
5 percent in the quarter ended Dec. 31.
The growth was led by Diploma's Life Sciences unit, which
serves the healthcare and environmental markets. Sales in the
unit rose 17 percent, helped by the acquisition of 80 percent of
Diagnostic Solutions in June last year.
The seals business -- which supplies hydraulic seals,
gaskets, cylinders, components and kits for heavy machinery and
industrial equipment -- posted revenue growth of 12 percent.
The company also warned that conditions across its Controls
business -- which supplies wiring, connectors, fasteners to the
aerospace and defence industries and to teams competing in the
Formula One, IndyCar and Nascar racing series -- remained
challenging due to the economic turmoil in Europe.
The United Kingdom and Continental Europe are the unit's
Shares in Diploma closed at 538 pence on Tuesday on the
London Stock Exchange. They gained 63 percent through last year.