Jonathan Thomson
CEO & Director
Good morning, everyone. Thanks for joining. Great to have you with us today. I’m here, as usual, with our CFO, Wilson Ng. I’m going to start with an overview of performance. Wilson will take you through the numbers, and then I’ll come back to talk about strategy and the businesses. Questions as usual at the end. Let’s get started.
It’s been a great first half. We’ve delivered a very strong performance across all our key financial metrics, building on our long-term compounding track record. We balanced ambitious earnings growth, 36% in the half with disciplined returns, 23% in the half and together, key to sustainable compounding success.
The quality and diversity of our portfolio gives us exposure to attractive end markets, which supports structural long-term organic growth, 15% in the half and 10% on average over the last 5 years. It also gives us resilience in uncertain times. We accelerate organic growth with targeted acquisitions. We’ve done 15 deals in the last 12 months, including 7 since we updated at Q1. The pipeline remains healthy with plenty of balance sheet capacity. We’re upgrading guidance again today, adding a further 6%, meaning expected operating profit growth of over 30%, and we’re looking forward to another year of sustainable quality compounding.
Diploma has been delivering compounded double-digit revenue
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