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(Alliance News) - Halma PLC on Wednesday said it has improved its expectations for its 2021 financial year due to making "good progress" in the second half of the financial year.
The FTSE 100 hazard detection and life protection technologies manufacturer said as a result, it now expects adjusted pretax profit for financial 2021 to be similar to that in financial 2020, compared to prior guidance of around 5% below the prior year. It posted adjusted pretax profit of GBP267.0 million in financial 2020.
Halma said this includes a small hit from movements in exchange rates, compared to the "broadly neutral effect" forecast at the time of the half-year results.
The company said order intake is currently ahead of revenue and ahead of the same period last year, reflecting the agility of its business model and the benefits of focus on niche markets with long-term growth drivers. Halma reported total group revenue of GBP1.34 billion in financial 2020.
"We have continued to see significant variations in demand in individual end markets and geographic regions in the second half of the financial year. Revenue grew in all four major regions, with the strongest growth being in Asia Pacific, which benefited from further recovery in China. There was good growth in mainland Europe and the UK, and more moderate growth in the US against a strong comparative in the second half of last year, with each of these three regions benefiting from recent acquisitions," said Halma.
Shares in Halma were up 1.9% at 2,348.00 pence in London on Wednesday.
By Zoe Wickens; zoewickens@alliancenews.com
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