Last checked at 17 Feb 2011 07:00
Halma p.l.c.
Interim Management Statement
17 February 2011
Halma, the leading safety, health and sensor technology group today makes an Interim Management Statement prior to its financial year end on 2 April 2011, covering the period from 3 October 2010 to date.
Based on current trading and forecasts, the Board expects profit (before amortisation of acquired intangibles) for the full year to be in line with current market expectations (see note 2).
Revenue in the first six months of the year was 12% ahead of 2009/10 and this trend has continued into the first four months of the second-half year. We have maintained strong returns and good cash generation.
The relative performance of each of our sectors and geographic regions has maintained the pattern of the first half with Infrastructure Sensors achieving solid results, Health and Analysis growing strongly and Industrial Safety continuing to deliver improved profitability. All geographic regions are delivering growth and, as expected, we are seeing the strongest growth in emerging economies, reflecting both the increased opportunity in these markets and our ongoing investment.
In November 2010, we announced the purchase of Alicat Scientific Inc. (Arizona, USA) and in December 2010, the purchase of Accudynamics Inc. (Massachusetts, USA). Both businesses are trading in line with our expectations as part of our Fluid Technology businesses within the Health and Analysis sector. These acquisitions demonstrate Halma's ability to identify and buy high quality businesses in our selected markets. We are continuing to search for such opportunities in all three sectors.
There have been no material events or transactions impacting the Group's financial position which remains robust and provides us with adequate resources for further acquisitions.
The results for the financial year ending 2 April 2011 are expected to be released on 21 June 2011.
For further information, please contact:
Halma p.l.c. Tel: +44 (0)1494 721111
Andrew Williams, Group Chief Executive
Kevin Thompson, Group Finance Director
MHP Communications Tel: +44 (0)20 3128 8100
Rachel Hirst/Andrew Jaques
Notes:
1. | This Interim Management Statement has been prepared solely to provide additional information to the shareholders of Halma p.l.c., in order to meet the requirements of the UK Listing Authority's Disclosure and Transparency Rules. It should not be relied on by any other party, for other purposes. Forward-looking statements have been made by the Directors in good faith using information available up until the date that they approved this statement. Forward-looking statements should be regarded with caution because of the inherent uncertainties in economic trends and business risks.
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2. | The Board believes current market forecasts to be in the range of £100m to £106.4m with a consensus of £102.7m (2009/10 profit before amortisation of acquired intangibles: £86.2m).
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3. | A copy of this announcement, together with other information about Halma, may be viewed on its website: www.halma.com
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