Last checked at 27 Sep 2017 07:00
Halma plc
Trading Update
27 September 2017
Trading Update
Halma, the leading safety, health and environmental technology group today releases its scheduled Trading Update, relating to trading for the period from 2 April 2017.
Halma made good progress in line with the Board's expectations. The improved rates of organic constant currency revenue and profit growth achieved in the second half of the last financial year have continued into the current year. Order intake was ahead of revenue and also ahead of the same period last year.
There was widespread growth geographically, with organic constant currency revenue increases in all major regions. Asia Pacific maintained strong growth, with good progress in the UK and Mainland Europe and a steady performance in the USA.
The Environmental & Analysis sector performed particularly well, benefitting from strong growth in Asia Pacific and the re-organisation in its Life Science and Research business during the first half of last year.
The improved performance achieved by the Process Safety sector in the second half of last year continued. Market diversification and rising demand from the US onshore energy market both contributed to significant growth over the prior year.
The Infrastructure Safety sector continued to achieve good growth as greater investment in new product development in recent years contributed towards increasing demand from Asia Pacific and Mainland Europe.
The Medical sector also achieved solid revenue growth, although profitability was lower due to increased investment in new product development and sales resources.
In August 2017, we announced the acquisitions of Cardios for an initial consideration of R$50m (£12.1m) and CASMED for $4.5m (£3.4m). Both businesses strengthen our Medical sector's blood pressure monitoring technology base, with Cardios also being Halma's first acquisition in Brazil. The integration of both businesses is progressing well.
Our M&A pipeline strengthened during the period. We continue to search for businesses in, or adjacent to, all four sectors and the additional sector resources added during 2016 have improved both the quantity and quality of our opportunities.
Cash generation was good and the Group's financial position remains strong.
The results for the half year ending 30 September 2017 will be released on 21 November 2017.
For further information, please contact:
Halma plc Tel: +44 (0)1494 721111
Andrew Williams, Chief Executive
Kevin Thompson, Finance Director
MHP Communications Tel: +44 (0)20 3128 8100
Rachel Hirst/Andrew Jaques
Notes:
1. | This Trading Update is based on unaudited management accounts information and has been prepared solely to provide additional information to the shareholders of Halma plc. 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. | A copy of this announcement, together with other information about Halma, may be viewed on its website: www.halma.com
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