Diploma (LON:DPLM) shares surged 8.4% on Thursday after the technical products and services provider raised its full-year guidance, citing a strong trading performance.
The FTSE 100 firm now expects 10% organic revenue growth for the financial year ending September, up from its previous forecast of 8%. Overall revenue increased by 12% in the nine months to 30 June, including a 10% organic rise.
Diploma also highlighted recent deal activity, with £39 million spent on two acquisitions. In Denmark, the company acquired Haagensen AS to strengthen its M-Seals business, while in the UK, it bought Alpha Laboratories, marking its entry into the in vitro diagnostics market.
The upbeat update made Diploma the best performer on the FTSE 100 on Thursday morning, with the broader index up 0.5%.
Full-year results are scheduled for release on 18 November.