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ACQUISITION OF AVO PHOTONICS, INC Halma, the leading safety, health and sensor technology group, announces the acquisition of Avo Photonics, Inc ('Avo') on 8 July 2011 from Blaine Hobson, Whitecap Partners, other shareholders and employees for an initial cash consideration of $9.0 million (£5.6 million). Avo, based in Pennsylvania, USA, designs and manufactures advanced, miniaturised photonic components and subsystems for OEM customers serving a wide range of end-markets. Avo will join Halma's Photonics businesses in the Health and Analysis sector. Avo's senior management will stay with the company after completion. For the calendar year 2010, Avo had unaudited revenues of $5.7 million (£3.6 million) and profit before tax of $1.0 million (£0.6 million). The acquisition, which is immediately earnings enhancing, has been funded from Halma's existing cash and debt facilities. Contingent consideration of up to $11.0 million (£6.9 million) is payable to the vendors, based on the growth in profit before tax for the period ending March 2012.
http://www.investegate.co.uk/Article.aspx?id=201107110925101235K
FTSE 250 constituent Halma – which makes health and safety equipment – is not, perhaps, a company many private investors will have heard of, yet it should be “on the radar” having delivered 32 years of dividend rises of 5 per cent or more. The full-year results, released last week, made good reading, with a 21 per cent rise in pre-tax profits to GBP104.6 million as revenues advanced to GBP518m. Halma is focussing on increasing its exposure to emerging markets as well as China and India. The Scotsman recommends that any meaningful share price weakness is used an an opportunity to establish a position. Buy, the paper says.
Update article from Midas column: http://www.dailymail.co.uk/money/markets/article-2008102/MIDAS-Eros-set-benefit-growing-love-cinema-India.html
Halma, the maker of a range of safety equipment — sensors and the like — aims to double in size every five years by using its strong cashflow both to invest in existing businesses and to buy new ones, while also offering investors dividends rising at 5% or more. The shares have come on by 45% over the past year and sell on a hefty 16 times this year’s earnings, while offering a prospective yield of about 2.5% . This looks high enough for now, the Times thinks.
Andrew Williams, Chief Executive of Halma, commented: "In 2010/11 we achieved our objective of significant organic growth and higher rates of return. We made substantial investments in acquiring businesses and developing new products and markets. This will remain a strategic focus for the year ahead to ensure we continue to position the Group's activities into markets offering growth and high returns. We are pleased with the momentum we have coming into 2011/12 and are looking forward to making further good progress in the year ahead."
Halma, the leading safety, health and sensor technology group, today announces its preliminary results for the 52 weeks to 2 April 2011. Highlights include: ● Pre-tax profit (1) from continuing operations up 21% to £104.6m (2010: £86.2m) on revenue up 13% to £518.4m (2010: £459.1m). ● Strong organic growth, reflecting Halma's commitment to investing in management development, innovation and emerging markets: Organic profit growth(2) of 19%, Organic revenue(2) up 11%. ● Successful acquisition of seven businesses totalling £82m (2010: £2m). ● High and increased level of returns achieved with Return on Sales(3) of 20.2% (2010: 18.8%), Return On Total Invested Capital(2) of 15.5% (2010: 13.6%) and Return on Capital Employed(2) of 71.9% (2010: 61.3%). ● All three sectors reported increased revenue and profit. Health & Analysis is now Halma's largest sector, Infrastructure Sectors made good progress and Industrial Safety achieved high profit growth and Return on Sales. ● Revenue outside the UK/Europe and the USA reached 24% (2010: 21%) of total revenue: good progress towards the Group's strategic objective for 30% of revenue to come from markets in the rest of the world by 2015. ● Order intake growth momentum maintained throughout the year. ● Adjusted earnings per share(4) from continuing operations up 21% to 20.49p (2010: 16.89p). Statutory earnings per share up 19% to 19.23p (2010: 16.10p). ● A record dividend of 9.1p, increased by 7%, marking the 32nd consecutive year of dividend increases of 5% or more. ● Strong balance sheet with net debt of £37m (2010: £9m net cash) and borrowing facilities of £165m in place until 2013, providing significant headroom for M&A in 2011/12.
http://www.investegate.co.uk/Article.aspx?id=201106210700067741I
Safety technology group Halma (HLMA) has acquired optical devices maker Medicel AG, together with its assembly and packaging subsidiary Robutec, for an initial cash consideration of 70 million swiss francs (46.6 million pounds). "Medicel and Robutec further extend our presence in the ophthalmic surgical instrument market which is forecast to see continued growth due to an aging population and increased global access to healthcare," commented chief executive Andrew Williams. Deferred purchase consideration of up to 30 million swiss francs (20 million pounds) is payable based on earnings growth over the three financial years to March 2014. Halma shares advanced 17.5p to 362.5p.
Halma (HLMA), the safety, health and sensor technology group, has completed the acquisition of the water technology division of Wagtech International for a cash consideration of 3 million pounds. Commenting on this, the group said the acquired business - which is to be merged with its water analysis business, Palintest - will increase its presence within developing regions such as Africa and Asia. The acquisition was funded from the group's existing cash and debt facilities. Shares in Halma inched ahead 0.3p to 338.3p.
For a FTSE 250 - this is a massively underrated company and off most radar - gr8 growth - increasing divis - gr8 opportunity in this economic environment. For a punt try EPO - DYOR and GLA
Or should I say Al Pacino! Think you may have dug up a little beauty here after all - check out this link: http://business.timesonline.co.uk/tol/business/columnists/article6943584.ece Which funnily enough also mentions Redhall - which additionally I am starting to think more and more as a good long term bet! Personally I didn't fancy Halma too much in the beginning because it was breaking through to new highs - so very hard to see where there might have been resistance - but I stand corrected! 1WJM
Is anyone else out there looking at this stock? Think dec interims could be good but no management info of any kind since final results back in June. Anyone shed any light?
Thank you for the reply. To me it seems they need to break 224p before any possibility of breaking out. I have never heard of the Co but have just looked back over the last three years Sp movement. Not that inspiring for me but GL.
Based on what? Facts or fiction.