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Pin to quick picksHalma Regulatory News (HLMA)

Share Price Information for Halma (HLMA)

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Share Price: 2,241.00
Bid: 2,241.00
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Change: 22.00 (0.99%)
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US Tax Reform Update

16 Jan 2018 07:00

RNS Number : 9348B
Halma PLC
16 January 2018
 

Halma plc

US Tax Reform Update

Halma expects the recently enacted US Tax Cuts and Jobs Act ("the Act") to positively impact its future US after tax adjusted earnings, primarily due to the reduction in the US federal corporate income tax rate from 35% to 21% applicable from 1 January 2018.

For the year to 31 March 2018 we currently anticipate that the announced changes will have a small positive impact on the Group effective tax rate on adjusted profits which we have previously guided will be in line with the H1 effective tax rate of 22.3%. For the year to 31 March 2019 we currently anticipate (based on the existing mix of adjusted profits) that the changes will reduce the Group effective tax rate on adjusted profits to approximately 20%.

We also expect that the changes will result in a one-off non-cash tax credit for the year to 31 March 2018 relating to the revaluation of US deferred tax assets and liabilities. This credit is expected to be approximately £15m based on our net US deferred tax liabilities at 1 April 2017.

The ultimate impact of the Act is subject to complex provisions in the legislation with further guidance and clarifications expected to be issued by the US authorities. We will continue our review and give updated guidance on the impact of these provisions together with our final results in June 2018.

Halma's next Trading update is expected to be on 22 March 2018.

For further information please contact:

Halma plc

Tel: +44 (0) 1494 721111

Kevin Thompson, Finance Director

 

MHP Communications

Tel: +44 (0) 20 3128 8100

Rachel Hirst/Andrew Jaques

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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