Diploma sees full-year revenue rising 10 pct
Sept 26 (Reuters) - Technical products supplier Diploma Plc said it expects a 10 percent rise in revenue in the full year, driven by strong sales in its life sciences business and an improvement in its seals unit.
The company, which supplies products ranging from hydraulic seals to electrical scalpels, said underlying fourth-quarter revenue increased 6 percent.
Group operating margins are expected to be about 19 percent, down from 20.3 percent last year, as the company invested more in growth initiatives.
"The life sciences division continues to motor along and while organic growth has moderated, we expect it is still double digit, driven by strong sales of consumables across the healthcare businesses," Jefferies analysts said in a note.
The company reported revenue of 260.2 million pounds ($418.09 million) last year.
Analysts on average expect a full-year pre-tax profit of 53.87 million pounds on revenue of 285.98 million pounds, according to Thomson Reuters I/B/E/S.
Shares in the company, which has a market capitalisation of about 713 million pounds, closed at 632.5 pence on the London Stock Exchange on Wednesday.
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