21st Mar 2019 07:48
LONDON (Alliance News) - Safety and environmental analysis firm Halma PLC said Thursday it expects full-year profit to grow in line with market expectations amid "widespread" revenue growth across its geographical units.
The FTSE 100-listed firm explained it had made "good progress" during the year ending March 2019 which has seen "widespread revenue growth geographically" with the UK and US particularly strong performers. Revenue growth in Asia Pacific and mainland Europe, however, has been more "moderate."
Order intake has also remained above that of the year prior.
As a result, Halma anticipates adjusted pretax profit to be "in line" with the GBP243.7 million market consensus. In financial 2018, Halma generated GBP213.7 million in adjusted pretax profit - implying the company expects around 14% growth year-on-year - on revenue of GBP1.08 billion.
Halma will publish its full year results on June 11.
The integration of recent acquisitions was said to be "progressing well" and it continues to have a "healthy" acquisitions pipeline for all its four sectors. During the second half of the year, Halma acquired three firms for a combined initial GBP62 million. In January, Halma also bought Rath Communications for USD42.4 million.
"The Safety sectors have performed in line with expectations, with the strongest progress in Infrastructure Safety, supported by positive contributions from recent acquisitions," Halma explained in a statement. "Process Safety is expected to deliver a satisfactory performance for the full year despite planned reorganisation costs in the second half. The Medical and Environmental & Analysis sectors remain on track to deliver good full-year performances."
Halma emphasised it has a "robust" financial position and cash generation remains "strong", which will support internal and acquisitive growth.
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