14th Jul 2020 08:54
(Alliance News) - Life-saving technologies maker Halma PLC on Tuesday upped its dividend payout for financial 2020 after reporting a record revenue and profit increase for the "17th consecutive year".
Amersham, England-based Halma, however, predicted adjusted pretax profit for financial 2021 to be 5% to 10% below financial 2020 due to uncertainty over timing of recovery following the Covid-19 pandemic. It also sees profit more weighted to the second half than in previous years.
The FTSE 100-listed company said that it has made a "resilient" start to the first quarter of financial 2021, with a 4% year-on-year drop in quarterly revenue, good cash generation and order intake ahead of revenue and the same period last year.
Chief Executive Andrew Williams said: "Halma delivered a record financial performance in the past year, and trading in the first quarter has been resilient despite the effects of the Covid-19 pandemic."
For the year to March 31, Halma posted a 8% rise in pretax profit to GBP224.1 million from GBP206.7 million. Adjusted pretax profit increased 9% to GBP267.0 million.
Revenue increased by 11% to GBP1.34 billion from GBP1.21 billion, including 5% organic constant currency revenue growth and a contribution from acquisitions of 5%.
All business divisions and major operating regions delivered revenue growth, Halma said.
The company, which makes medical safety and environmental monitoring products, raised its final dividend for financial 2020 by 3.8% to 9.96 pence per share from 9.60p.
Together with the 6.54p interim dividend, this will result in a total dividend for financial 2020 of 16.50p, up 5% from 15.71p a year ago, up 5%, making this the 41st consecutive year of dividend per share growth of 5% or more.
Shares in Halma were down 6.1% at 2,156.20p each in London on Tuesday morning, the worst performer in the FTSE 100.
By Tapan Panchal; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Halma