May 11, 2020 / 6:30 AM / 22 days ago

BRIEF-Diploma Says Revenues Taken About 28% Hit In April On An Underlying Basis

May 11 (Reuters) - Diploma PLC:

* H1 REVENUE ROSE 10 PERCENT TO 283.6 MILLION STG

* HY ADJUSTED PROFIT BEFORE TAX 48.4 MILLION STG VERSUS 45.5 MILLION STG

* REVENUES HAVE FALLEN IN APRIL BY CA. 28% ON AN UNDERLYING BASIS AND BY CA. 16% ON AN ACTUAL BASIS

* FREEZING ALL CAPITAL EXPENDITURE AND DISCRETIONARY SPEND AND WE REMAIN FOCUSSED ON MANAGING OUR WORKING CAPITAL

* EXECUTIVE DIRECTORS, NON-EXECUTIVE DIRECTORS, EXECUTIVE TEAM HAVE VOLUNTEERED REDUCTION IN BASIC SALARY/FEES OF 20% FOR DURATION OF CRISIS

* HIGHLY UNCERTAIN OUTLOOK IN H2 WHILE GLOBAL RESPONSE TO COVID-19 PANDEMIC IMPACTS OUR BUSINESSES IN MANY OF OUR MAJOR MARKETS

* HY STATUTORY PROFIT BEFORE TAX 41.6 MILLION STG VERSUS 40.1 MILLION STG

* AT 31 MARCH 2020, GROUP’S NET BANK DEBT HAD INCREASED BY £14.8M TO £29.9M COMPARED WITH NET BANK DEBT OF £15.1M AT 30 SEPTEMBER 2019

* IS ELIGIBLE FOR UP TO £225M OF CASH FACILITIES UNDER HM TREASURY’S COVID CORPORATE FINANCING FACILITY

* GROUP DOES NOT BELIEVE IT WILL NEED TO UTILISE FACILITY Source text for Eikon: Further company coverage:

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