(Alliance News) - Halma PLC on Wednesday reported improving sales trends but said it still expects adjusted pretax profit for financial 2021 to be between 5% to 10% below financial 2020 figures.
The FTSE 100 hazard detection and life protection technologies manufacturer said it has delivered a "resilient" performance in the year-to-date, adding that revenue trends have gradually improved from the end of the first quarter. However, it continues to expect adjusted pretax profit for the current financial year to be 5% to 10% below GBP267.0 million recorded for financial 2020 ended March 31.
"There has continued to be a significant variation in demand in individual end-markets and geographic regions. The USA and mainland Europe regions have delivered the most resilient overall trading performances. The UK and Asia Pacific have remained more challenging, although the latter has benefited from prior year acquisitions and a gradual recovery in China," Halma said.
The company noted the Environmental & Analysis sector has "performed well", adding the Medical sector has started to see a "modest" improvement in demand for products related to elective surgical and diagnostic procedures. While the Safety sectors were hurt by limitations on physical access to sites in the first quarter, there has been an improvement in the second quarter to date.
Separately, Amersham, England-based Halma said Paul Walker intends to relinquish the chair and step down from the board by 2021. He will be moving to FTSE 100 business publisher and events organiser RELX PLC to take up the same role in the first half of 2021, replacing Anthony Habgood.
Halma's search for a replacement has started.
Walker has been chair of Halma since 2013. He was chair at sports media company Perform Group - now DAZN Group Ltd - from 2011 to 2018, also holding the same position at data management software company WANdisco PLC from 2014 to 2016. He was previously chief executive of accounting software firm Sage Group PLC and held non-executive director roles at cybersecurity company Sophos Group PLC, credit checker Experian PLC and FTSE 100 alcohol producer Diageo PLC.
Commented RELX Senior Independent Director Wolfhart Hauser: "Paul has a strong record of value creation as a FTSE 100 chair and chief executive, has a deep understanding of corporate governance, and brings extensive international experience in sectors relevant to RELX's business. We are pleased to welcome Paul to RELX. I would like to thank Anthony for his exemplary leadership as chair for more than 10 years during which RELX has been transformed and its share price more than tripled."
Shares in Halma were trading 1.9% higher at 2,259.00 pence each on Wednesday morning in London, while RELX shares were trading 2.6% higher at 1,741.50 pence each.
By Ife Taiwo; ifetaiwo@alliancenews.com
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