24th Jul 2014 08:07
LONDON (Alliance News) - Technology group Halma PLC Thursday said it is positioned for further progress in the year ahead, in line with its expectations.
In a statement ahead of its annual general meeting on Thursday, the company said that market conditions had remained varied within its four sectors and major geographic regions, and noted that the appreciation of sterling has continued to cause it trouble.
Halma said it has continued to achieve organic revenue growth at constant currency, with order intake at 103% of current revenue.
In its Process Safety division the company saw growth in the US, Mainland Europe, the Middle East and South America, which offset lower revenue in the Asia Pacific region. The company said that the integration of Rohrback Cosasco Systems Inc, which it acquired in May, has started well, and RCS has begun to collaborate with Halma's other companies already.
Halma's Infrastructure Safety division also made solid progress, seeking growth in the UK and Mainland Europe. Its integration of acquisition Advanced Electronics Ltd is proceeding well, it said.
Its Medical sector saw a slow start to the year, Halma said, but is gaining momentum with good underlying growth in the US and South America. Acquisition Plasticspritzerei AG has been fully integrated into its Medicel company, the company said.
Both Advanced Electronics and Plasticspritzerei also were acquired by Halma in May.
The performance of the Environmental & Analysis sector was mixed, Halma said, as revenue growth in mainland Europe and the Asia Pacific region was encouraging, but trading in the US and UK was more challenging.
Halma expects to release its interim results November 18.
Share in Halma were trading up 0.6% at 569.50 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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