19th Nov 2019 08:25
(Alliance News) - Halma PLC on Tuesday said "good organic and acquired growth" resulted in a strong year-on-year rise in first half earnings, and the hazard detection and life protection products supplier remains on track to deliver another good full-year performance.
Halma shares in London were up 8.8% at 2,068.00 pence each in morning trade, the top performer in the FTSE 100 index
For the six months to September 30, Halma recorded pretax profit of GBP105.8 million, up 12% from GBP94.5 million in the year-ago period. Revenue increased by 12% year-on-year to GBP653.7 million from GBP585.5 million.
The revenue growth was attributed to good organic constant currency revenue growth of 5%, a 4% contribution from acquisitions and a positive currency translation effect of 3%.
"We grew revenue in all four major regions, with organic constant currency revenue growth in our four major regions and in all of our business sectors. This was further supported by a positive contribution from acquisitions and by favourable currency translation," Halma said.
The US - the company's largest market - saw 15% year-on-year rise in interim revenue to GBP248.8 million. Revenue in both the UK and Mainland Europe grew 9% to GBP105.2 million and GBP135.5 million, respectively. Asia Pacific's revenue in the first half grew 21% year-on-year to GBP106.8 million.
The Rest of the world unit, which represents just 9% of Halma, saw 6% year-on-year drop in interim revenue to GBP57.4 million.
"Since the period end, order intake has continued to be ahead of revenue and order intake last year. Halma remains on track to make further progress in the second half of the year and deliver another good full year performance," Halma Chief Executive Andrew Williams said.
Halma has upped its interim dividend payment by 7.0% to 6.54p per share from 6.11p a year ago.
By Tapan Panchal; [email protected]
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