hlma20 Nov 2012 23:00
Andrew Williams, Chief Executive of Halma, said: "Halma made good progress during the period, achieving record revenue and profit and strong returns.
Our focus on building strong positions in markets with sustainable, long-term growth drivers such as Health and Safety regulation, increasing demand for healthcare and the need for life-critical resources (including energy and water) is providing both resilience and opportunities to grow. Order intake continues to be slightly ahead of revenue and Halma remains on track to make further progress in the second half of the year."
During the period the group made three acquisitions and one disposal, and said its acquisition pipeline "remains healthy". As a result of these transactions, net debt increased to £74.1m at the period end compared to £18.7m at March 31st.
Taking acquisitions, disposals and currency rate changes into account, Halma estimates that the underlying organic growth rates at constant currency were as follows: US up 2%, Europe up 0.3% and UK down 2%.
The return on sales edged marginally lower from 20.5% to 20.4%.
Cash and equivalents at the period end totalled £43m, compared to £41.7m the previous year.