The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Halma: UBS raises target price from 350p to 375p, sell recommendation kept.
Halma share price continues to go onwards and upwards - still a great share to hold IMO as it pays good divis which increase year on year, has excellent management and has take over opportunity lurking in the background which might come to fruition one of these days - DYOR and GLA.
CONT "Infrastructure Sensors is performing resiliently. All four subsectors are seeing reduced demand from Europe but good growth in the USA. The reorganisation of our Elevator Safety business is proceeding to plan and will be complete by the end of the first half. "Since the start of the financial year, Halma has announced the completion of three acquisitions for a total initial consideration of £65m. In April 2012, we acquired Accutome Inc., an ophthalmic products business based in Pennsylvania, USA and Sensorex Inc., a water quality sensor manufacturer, based in California, USA. In May 2012, we acquired SunTech Medical Group Limited, a manufacturer of clinical grade blood pressure monitors, headquartered in North Carolina, USA. All three businesses have made a very positive start within our Health and Analysis sector and are trading in line with our expectations. "There have been no material events or transactions impacting the Group's financial position, which remains strong. We continue to increase investment in supporting organic growth and to acquire businesses which meet our strategic and financial criteria. "The half yearly results for the period ending 29 September 2012 are expected to be released on 20 November 2012."
AGM Trading Update/Interim Management Statement 24 July 2012 Halma, the leading safety, health and environmental technology group is holding its 118th AGM later today, at which Geoff Unwin, Chairman, will make the following statement which comprises the Group's Interim Management Statement relating to the period 1 April 2012 to 24 July 2012 and covers the first quarter's trading. "Trading since the start of the year has been in line with the Board's expectations. "Revenue during the first quarter was 6% ahead of last year including 2% organic growth at constant currency. Order intake was 105% of revenue and 8% ahead of last year. "As expected, trading conditions have varied across different geographic regions and market sectors although we continue to benefit from the diversity of our businesses. The Group achieved satisfactory organic revenue growth at constant currency in the UK with higher growth in Asia and the USA offsetting weaker demand from Europe. "Industrial Safety is maintaining strong progress with revenue growth in all four sub-sector businesses. Energy markets have continued to offer significant growth opportunities supported by Health and Safety requirements. "Health and Analysis is making steady progress. Water and Health Optics are performing well whilst Fluid Technology and Photonics are starting to see an improvement in demand following a slow start to the year.
http://www.investegate.co.uk/Article.aspx?id=201207240700073071I
The acquisition is expected to be immediately earnings enhancing.
Andrew Williams, Halma's Chief Executive, said: "The acquisition of SunTech continues our strategy of building strong positions in markets with resilient long-term growth drivers. Their blood pressure monitoring technology is a perfect complement to Riester's own clinical grade blood pressure monitoring devices and this acquisition allows the two companies to work together to further develop their markets and products." SunTech will join Halma's Health and Analysis sector within the Health Optics sub-sector which includes Riester, Keeler, Volk and Accutome.
A further consideration of up to $6.0m (£3.9m) will be paid if earnings for the year to December 2012 exceed a pre-determined target. SunTech's unaudited accounts, adjusted for non-recurring expenses, for the financial year ended December 31st 2011 show revenues of $23.0m (£14.8m) and an operating profit of $5.4m (£3.5m), while current trading remains good, the firm said.
Safety, health and sensor technology group Halma has acquired SunTech Medical Group, which supplies clinical grade non-invasive blood pressure monitoring products and technologies. The company was purchased for an initial consideration of $46m (£29.7m) for the share capital alongside $5.0m (£3.2m) for cash retained in the business. SunTech's working capital, excluding cash, is expected to be around $8.3m (£5.4m).
Agreed jonny - this is a tremendous share - only hope the results next week are positive otherwise they'll be bashed - but then another good buying opportunity. I like the capital and divi growth year on year and the divis are not to be sniffed at - reckon this will carry on rising year on year by the usual 15 -20%! Great company - Barclays clearly haven't done their homework! DYOR & GLA.
i agree Baring Up it will be interesting to see how the share moves with full year results due on the 14th. Diploma is also due out on that day another good company as is Spectris and Melrose. i see no justification for Barclays to downgrade, hope it will be a case of Egg on their face!
Barclays Capital downgrades Halma from outperform to equal weight, target price raised from 380p to 430p.
Analysts should be held accountable for their wild and often misleading 'targets' - I suspect it is often connected to where they would ideally like their positions to be or come from. This is a great British company, strong profit and dividend performance over the years, excellent management and still showing real growth. I will continue to hold and tuck more away when price dips. DYOR & GLA.
forget the analysts this one is top of the pile, with good management and focus results are reliable. Essential portfolio banker see history ...johnny22 (USB sell rating what do they know ...£300 WHAT A LAUGH)
This gr8 share seems to be off everyone's radar - strange - it has a gr8 history of both divi growth and share price increase year after year - it is definitely one to keep and tuck away for the long term. DYOR and GLA.
Halma: UBS reduces target from 325p to 300p, sell rating unchanged
Outlook Although there are significant global economic uncertainties, our structure of decentralised management and the underpinning of demand from fundamental growth drivers have proved to be resilient in difficult markets. Halma remains on track to make further progress in the second half.
Results For the first half, revenue from continuing operations of £280m was 12% up compared with the prior year (2010/11: £249m); organic revenue1 growth was 4.7% and, at constant currency, was 5.8%. Adjusted1 profit before tax from continuing operations increased 17% to £57.5m (2010/11: £49.3m), with organic growth of 4.5% at constant currency. Statutory profit before tax increased by 8% to £51.3m. Return on Total Invested Capital1 was 16.9% (2010/11: 15.5%). Cash flow was solid in the half year and we completed two acquisitions for initial payments totalling £14.5m, including £1.1m of debt (2010/11: £nil). This contributed to net debt of £56m at the end of the period compared with £37m at 2 April 2011.
Seymour Pierce initiates buy on Halma, target price 380p
Halma (HLMA) remains a "hold" for Brewin Dolphin with a target price of 420p. The hazard protection company is performing in-line with the brokers expectations, with underlying revenues up 8% and acquisition adding a further 6%. Brewin feels that Halma has a core holding in the industrial sector and notes an attractive dividend over the last 32 years, consistently over 5%. The price is calculated on an EV/EBITDA of 11x, which is at a 30% premium to its peer group
Halma non-exec cashes in Non-executive director Richard Stone has offloaded some shares in the engineering conglomerate Halma, taking advantage of strength in the price following last month’s full year figures. He sold 10,000 shares at 418.7p each, pocketing a total of £41,870. Following the sale, he still has 10,000 shares.
Halma provides a wide range of safety equipment including hazard detectors and sensors. While the shares are probably fairly valued, Halma’s fundamentals are solid, it has good growth prospects and its track record justifies a higher valuation than its peers’. This one will pay off for those who keep hold over the long term. Hold, says the Independent.
Halma (HLMA) has bought Avo Photonics for an initial cash consideration of 9 million dollars (5.6 million pounds) in order to give its "businesses access to more advanced technologies and manufacturing processes." The miniaturised photonic components manufacturer, which reported 1 million dollars (0.63 million pounds) in pre-tax profits for 2010, will join Halma's existing photonics businesses in the health and analysis sector. The shares fell 9.7p to 417p.
Andrew Williams, Halma's Chief Executive, commented: "Avo recently completed a highly successful collaboration project with Halma's major Photonics business, Ocean Optics, and their addition to the Group will give all of our Photonics businesses access to more advanced technologies and manufacturing processes. Expanding their customer base both inside and outside Halma offers Avo exciting growth opportunities."