Halma PLC Trading Statement (5177I)
22 March 2018 - 6:00PM
UK Regulatory
TIDMHLMA
RNS Number : 5177I
Halma PLC
22 March 2018
Halma plc
Trading Update
22 March 2018
Trading Update
Halma, the leading safety, health and environmental technology
group today releases its scheduled Trading Update, relating to
trading for the period from 1 October 2017 to today.
Based on current trading and forecasts, the Board expects
adjusted profit before tax for the year ending 31 March 2018 to be
in line with market expectations (see notes 1 and 2).
Halma continues to benefit from the diversity of its markets and
resilient growth drivers. Order intake has remained ahead of
revenue. The positive currency translation impact in the first half
has reversed and, at current rates, there is now expected to be a
neutral impact for the full year.
Organic constant currency revenue and profit growth has
continued in the second half with organic constant currency revenue
growth in all major geographic regions. Asia Pacific has maintained
a strong performance with good progress in the UK, USA, Mainland
Europe and Other regions.
All sectors have traded in line with our expectations outlined
at the half year. The Environmental & Analysis sector has
performed strongly, with the Process Safety, Infrastructure Safety
and Medical sectors making good progress. As expected, actions to
control discretionary costs are steadily improving profitability in
the Medical sector and the growth rate in the Process Safety sector
has moderated due to tougher prior year comparators.
The Group's financial position remains strong. This supports
both organic growth and acquisition investment. We continue to
identify potential acquisition opportunities in all four of our
sectors.
In December 2017, we announced the combined acquisition of Argus
and Sterling for a consideration of GBP21 million. Argus, based in
Trieste, Italy is a leading manufacturer of wireless fire systems
and Sterling is its exclusive distributor of wireless devices into
the UK market. The integration into our Infrastructure Safety
sector is progressing well.
The results for the year ending 31 March 2018 will be released
on 12 June 2018.
Board Succession Update
The transition of Marc Ronchetti to Group CFO is progressing
well. Marc will succeed Kevin Thompson at the end of June 2018
prior to Kevin's retirement from Halma at the end of July 2018.
For further information, please contact:
Halma plc Tel: +44 (0)1494 721111
Andrew Williams, Chief Executive
MHP Communications Tel: +44 (0)20 3128 8100
Rachel Hirst/Andrew Jaques
Notes:
1. Adjusted profit before tax is before amortisation
and impairment of acquired intangible assets,
acquisition items, restructuring costs and
profit or loss on disposal of operations.
2. The Board believes current market forecasts
for adjusted profit before tax to be in the
range of GBP208.3 million to GBP218.1 million
with a consensus of GBP212.3 million.
3. This Trading Update is based on unaudited
management accounts information and has been
prepared solely to provide additional information
to the shareholders of Halma plc. It should
not be relied on by any other party, for
other purposes. Forward-looking statements
have been made by the Directors in good faith
using information available up until the
date that they approved this statement. Forward-looking
statements should be regarded with caution
because of the inherent uncertainties in
economic trends and business risks.
4. A copy of this announcement, together with
other information about Halma, may be viewed
on its website: www.halma.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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