25th Sep 2019 08:14
(Alliance News) - Halma PLC on Wednesday said it has made "good" progress in the first half as it makes changes to its executive board to "achieve its growth ambitions".
The FTSE 100-listed hazard detection and life protection technology manufacturer said its performance was in line with expectations in the period from April to date and included further organic constant-currency revenue growth. Last year, for the six months to the end of September 2018, Halma delivered revenue of GBP585.5 million.
The company explained that all sectors delivered organic constant-currency revenue growth in the recent period. The Environmental & Analysis division performed well, while the Medical and Infrastructure Safety units saw more modest rates of growth. Revenue growth in Process Safety was in line with the second half of last year, Halma said.
Geographically, the company also reported organic constant currency revenue increases in all major regions, including the UK and the US, with more moderate growth in Europe and Asia-Pacific. Halma highlighted that the weakness of sterling is having a positive currency translation effect on its earnings.
Halma will publish its half-year results on November 19.
Turning to its executive board, the company had made three changes during its financial first half under "planned succession processes".
Laura Stoltenberg will succeed Adam Meyers as chief executive of Medical & Environmental sector from Tuesday next week.
Meanwhile, Catherine Michel has joined Halma as first chief technology officer and Ruwan De Soyza has joined Halma as general counsel & company secretary following the retirement of Carol Chesney.
"These appointments bring important new capabilities to our executive board which are aligned with our organic and acquisition growth strategies," explained Chief Executive Andrew Williams.
He added: "Laura, Ruwan and Catherine have all demonstrated a strong understanding of Halma's unique operating culture and will work closely with our sector and company boards to help them achieve their growth ambitions."
Halma shares were trading 2.1% lower on Wednesday morning at 1,932.00 pence each in London.
By Evelina Grecenko; [email protected]
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