Diploma Plc (LON: DPLM) has released a trading update for the year ending 30 September 2020. The company has been restricting all discretionary capital expenditure and focusing on working capital to conserve cash.
- There was a resilient trading performance by the group, and the adjusted operating profit is expected to be in line with market expectations.
- Underlying revenue from the Life Sciences segment declined by 19 per cent in Q3 and 6 per cent in July. Seals segment underlying revenue was down by 12 per cent for the third quarter and 7 per cent for the month of July.
- The group has liquidity of around £100 million cumulatively from its £60 million revolving credit facility (undrawn) and available cash balances.
- On 27 August 2020, at the time of writing, GMT 09:03 AM, DPLM shares were trading at GBX 1,952.00, down by 5.00 points or 0.26% against the previous day closing price.