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(Sharecast News) - Safety equipment maker Halma reported a rise in adjusted annual profits after a surge in revenues and said chief executive Andrew Williams had decided to retire after 18 years in the role.
The company on Thursday posted adjusted pre-tax profit of £316m, up 14% as revenue rose 16% to pass £1.5bn for the first time.
Williams, who will be succeeded by chief financial officer Marc Ronchetti, said the company had made a positive start to the new financial year.
"We have a strong order book, and order intake in the year to date is ahead of revenue and in line with the very strong intake in the same period of the prior year."
He added that Halma expected to deliver continued growth and maintain high returns in the current fiscal year, with "good single digit percentage organic constant currency revenue growth and a Return on Sales similar to the second half of the 2021/22 financial year".
