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(Sharecast News) - Safety equipment maker Halma revised its full-year profit forecasts and lifted its interim dividend as order intake in the second half rose year on year.
The company on Thursday said adjusted profit before tax to be around 5% below last year, compared to prior guidance of 5% - 10% below 2019/20.
"We have had a good start to the second half, with order intake ahead of revenue and up on the same period last year. Our improving trading performance, together with our strong cash position, will enable us to accelerate strategic investments in the second half of the year," the company said.
Pre-tax profits for the six months to September 30 fell 9% to £96.3m as revenues slipped 5% to £618.4m. The dividend rose to 6.87p a share from 6.54p.
"All our major regions were adversely affected by the impact of Covid-19 during the period. We delivered revenue growth in the USA and moderate revenue declines in mainland Europe and Asia Pacific, despite growth in China. There was a weaker performance in the UK, although trends have been improving," the company said.
AJ Bell investment director Russ Mould said: "You have to be an aficionado of 1980s pop to remember German band Freiheit and their one-hit wonder 'Keeping the Dream Alive' but shareholders in ... Halma continue to benefit as the company keeps a long-running dividend growth streak alive."
"Halma can already point to 41 consecutive increases in its annual dividend of at least 5% and the interim results suggest the FTSE 100 firm is well on track to make it 42, despite the difficult overall backdrop."
15 Jun 2023 12:07
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