19th Nov 2013 11:22
LONDON (Alliance News) - Safety, healthy and environmental technology group, Halma Tuesday reported record first-half results and dividend increases as the firm continued to invest in Innovation, People Development and International Expansion.
Halma said revenue from continuing operations rose 12% to GBP333.1 million from GBP298.1 million last year, with adjusted profit up 9% at GBP65.1 million from GBP59.7 million for the comparable period last year.
Organic growth is also up, with revenue gains up 8% and profit up 5%, at constant currency these figures drop to 6% and 2%, respectively.
The firm reports widespread revenue growth during the period and organic growth in all regions; Asia Pacific up 15%, including 32% in China, USA up 15%, UK up 9% and Europe up 8%. On a sector-by-sector basis, Halma reports revenue growth in all four divisions, excluding prior year disposal, including good profit growth in Process Safety, Infrastructure Safety and Medical, with Environmental & Analysis reorganisation on track, to be completed in the second-half.
Adjusted earnings per share from continuing operations is up 7% to 12.99 pence form 12.12 pence. Statutory earnings per share were down 13% to 11.28 pence from 12.93%; Halma said the previous year benefited from significant gain on disposal.
Halma declared an interim dividend of 4.35 pence in its half-yearly statement, up 7% on last year. The firm also reports flat net debt of GBP110 million for the period, noting, "Strong financial position underpinned by good operating cashflow. Financial capacity for further organic growth and acquisitions. Acquisition pipeline remains healthy."
Andrew Williams, Chief Executive of Halma, said, "Halma made strong progress during the period, achieving record revenue and profit, while continuing to increase investment in Innovation, People Development and International Expansion. Order intake since the period end has continued to be slightly ahead of revenue and in line with our expectations. Halma remains on track to make further progress in the second half of the year."
Shares in the firm were trading up 0.96% at 576.5 pence per share Tuesday morning.
By Alice Attwood; [email protected]; @AliceAtAlliance
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