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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Diploma Plc | LSE:DPLM | London | Ordinary Share | GB0001826634 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 3,748.00 | 3,746.00 | 3,750.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Industrial Mach & Eq-whsl | 1.2B | 117.7M | 0.8778 | 42.70 | 5.03B |
TIDMDPLM
RNS Number : 4775Y
Diploma PLC
22 August 2018
DIPLOMA PLC
12 CHARTERHOUSE SQUARE, LONDON EC1M 6AX
TELEPHONE: +44 (0)20 7549 5700
FACSIMILE: +44 (0)20 7549 5715
FOR IMMEDIATE RELEASE
22 August 2018
DIPLOMA PLC
ACQUISITION OF FS CABLES FOR CASH CONSIDERATION OF GBP18.0M
Diploma PLC, the international group of businesses supplying specialised technical products and services, is pleased to announce the acquisition of FS Cables which comprises Caplink Limited and FSC Global Limited. The business is based in St Albans where it employs 62 staff and provides essential specialist electrical, data and communications cable products and solutions to a broad base of primarily UK based customers. This transaction will be immediately earnings enhancing to Diploma PLC and will be reported as part of the Controls Sector activities.
FS Cables is a long established and leading supplier of specialist cable products to installers, end-users and wholesalers for a range of industries including Electrical contracting, Home automation & building management, Rail, Marine and Telecommunications. The business primarily supplies own branded products sourced from a portfolio of long-standing suppliers, but also sources some products from leading branded manufacturers.
The sellers will remain with the business until 28 February 2019, to ensure a smooth management transition.
The audited financial statements of Caplink Limited and unaudited financial statements of FSC Global Limited for the year ended 31 October 2017 reported aggregate profit before tax of GBP2.7m on aggregated revenues of GBP15.4m (including intercompany revenues of GBP1.1m); aggregate profit before tax includes ca. GBP0.3m of income from a property related LLP which will cease on Completion. Aggregate gross assets at 31 October 2017 were GBP17.5m and included cash of GBP6.1m and property related assets of GBP3.4m which will be retained by the sellers.
The initial cash consideration on a cash and debt free basis to be paid on completion will be GBP17.0m, before acquisition costs, which will be met from existing cash resources. Deferred consideration up to a maximum of GBP1.0m will be payable based on aggregate Earnings Before Interest and Tax achieved in the year ending 31 October 2018.
Diploma PLC - +44 (0)20 7549 5700 Richard Ingram, Chief Executive Officer Nigel Lingwood, Group Finance Director Tulchan Communications - +44 (0)20 7353 4200 David Allchurch Martin Robinson
NOTE TO EDITORS:
Diploma PLC is an international group of businesses supplying specialised technical products and services to the Life Sciences, Seals and Controls industries.
Diploma's businesses are focussed on supplying essential products and services which are funded by the customers' operating rather than their capital budgets, providing recurring income and stable revenue growth.
Our businesses then design their individual business models to closely meet the requirements of their customers, offering a blend of high quality customer service, deep technical support and value adding activities. By supplying essential solutions, not just products, we build strong long term relationships with our customers and suppliers, which support attractive and sustainable margins.
Finally we encourage an entrepreneurial culture in our businesses through our decentralised management structure. We want our managers to feel that they have the freedom to run their own businesses, while being able to draw on the support and resources of a larger group. These essential values ensure that decisions are made close to the customer and that the businesses are agile and responsive to changes in the market and the competitive environment.
The Group employs ca. 1,700 employees and its principal operating businesses are located in the UK, Northern Europe, North America and Australia.
Over the last ten years, the Group has grown adjusted earnings per share at an average of ca. 14% p.a. through a combination of underlying growth and acquisitions. Diploma is a member of the FTSE 250 with a market capitalisation of ca. GBP1.5bn.
Further information on Diploma PLC, together with a copy of this Announcement, is available at www.diplomaplc.com
LEI: 2138008OG17VYG8FGR19
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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August 22, 2018 02:00 ET (06:00 GMT)
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