London EC1-based components distributor Diploma Plc is disappointed with its half year results, which it blames on static markets in the electronic components, building components, and special steels areas in which it operates. As a whole, the electronics division’s performance was flat compared to the six month results last year. In particular Nortronic DTV had a difficult time in the electromechanical and passive component markets, but has won a franchise from Philips which will produce long term benefits. Both Macro and The Access Group turned in steady performances, while the acquisition of 75% of the equity of Engineering Computer Services Ltd has made an initial contribution to the division’s profitablility. Indeed, CAD/CAM design and distribution is something in which the group looks likely to expand. Diploma hopes that increased availability of memory devices will help pull the second half higher than the first half’s overall performance, which saw pre-tax profit up 9% at UKP10m on turnover up 13% at UKP69m.
