November 19, 2018 / 7:18 AM / 5 months ago

Diploma building inventory ahead of Brexit

Nov 19 (Reuters) - Industrial component distributor Diploma Plc said on Monday it had begun building inventory for some products to help offset the impact from any significant disruption in cross border trade because of Britain’s exit from the European Union.

Diploma, which supplies a range of products from hydraulic seals to engine-repair gadgets for Formula 1 cars, said its financial results may be hurt by macro-economic instability arising from a delayed or disruptive Brexit.

Diploma also reported a 9 percent rise in adjusted pretax profit to 84.8 million pounds for the year ended September. (Reporting by Noor Zainab Hussain and Tanishaa Nadkar in Bengaluru; Editing by Bernard Orr)

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