Mar 19 2026
Business Support Services
Recent Research
Diploma plc, Significant upgrade to guidance
Mar 18 2026
Diploma plc, Q1 trading statement
Jan 14 2026
Diploma plc, Strong FY2025 results
Nov 18 2025
Diploma plc, Delivering to the model
Nov 19 2024
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Diploma plc
Upgrading forecasts
Following the positive trading statement issued yesterday (March 18th), we are upgrading our Diploma forecasts. We increase the expected rate of organic revenue growth and our margin...
Diploma plc
Significant upgrade to guidance
Diploma has issued a trading statement indicating strong organic revenue growth and margin expansion so far in its H1 to March 31st. The company has significantly increased full year...
Diploma plc
Q1 trading statement
Diploma has reported a trading statement for Q1 2026 to December 31st ahead of its AGM today reflecting continued strong momentum. Organic revenue growth in Q1 was 14%. Diploma...
Diploma plc
Strong FY2025 results
Diploma’s FY2025 results (to September 30th) reflect strong organic top line growth, margin expansion and 21% EPS growth. The operating performance continues to be very impressive....
Diploma plc
Upgrading forecasts and price target but moving to ‘Neutral’
Diploma’s operating performance continues to be excellent with strong top-line growth driving margin expansion. We upgrade our forecasts and now assume 19% EPS growth in FY2025. We...
Diploma plc
Strong Q1; in-line, no change to numbers
Q1 has come in in-line with expectations, albeit a little ahead of the FY guidance (and DavyE), with divisional trends running in a similar direction to last year. We leave our numbers, our...
Diploma plc
Delivering to the model
Diploma’s (DPLM) FY24 results have come in a nudge ahead of expectations and in line with the financial model – in this case, a very impressive result in our view. Although the...
Diploma plc
Strength in numbers
Diploma has been one of the most resilient stocks in the Industrials universe. It runs a decentralised, acquisitive model whereby the companies acquired enhance the overall group’s...
Bunzl plc
Housekeeping following H1 statement
In line with our comments on June 30th, we have updated our forecasts for Bunzl. Effectively, the upgrade is c.5% (c.3% organic – primarily driven by inflation; the remainder is FX and...
Bunzl plc
Strong H1 growth, but inflation remains the key driver
Bunzl has released its H1 pre-close statement, which is strong and has benefited significantly from an inflation driver. Overall, forecasts for 2022E are set to increase and we expect...
