Interim Management Statement

RNS Number : 7337Z

Halma PLC

11 February 2014

 



Halma plc Interim Management Statement 11 February 2014 Halma, the leading safety, health and environmental technology group today releases an Interim Management Statement covering the period from 29 September 2013 to date. Based on current trading and forecasts, the Board expects adjusted profit before tax for the full year ending 29 March 2014 to be within the range of £139m to £140m. The trading patterns reported for the first six months of the financial year have continued with revenue growth in all regions and all sectors, despite the increased strength of Sterling against the US Dollar and Euro. Order intake has remained slightly ahead of revenue. Asia Pacific has continued to grow strongly with good growth in China. The rate of growth in the UK has improved, Mainland Europe has maintained good progress, whilst there has been lower growth in the US. This reflects Halma's ability to sustain growth in both developed and developing regions. All four sectors generated revenue growth with strong underlying performances in the Process Safety and Infrastructure Safety businesses. The Medical sector made slower progress whilst Environmental & Analysis is starting to show improved performance. The final phase of reorganisation of certain businesses within this latter sector is proceeding well, with one-off costs expected to be within our previous estimate of £1m. Across the Group, we have continued to increase investment in R&D resources, People Development and the expansion of our global footprint to support organic growth. On 29 November 2013, Halma announced that it increased and extended its syndicated revolving credit facility to £360m (from £260m) through to November 2018 (from October 2016). There have been no other material events or transactions during the period impacting the Group's financial position, which remains strong. We continue to identify potential acquisition opportunities which meet our strategic and financial criteria. The full year results for the period ending 29 March 2014 are expected to be released on 12 June 2014. Conference call Andrew Williams (Chief Executive) and Kevin Thompson (Finance Director) will host a conference call for analysts and investors on this announcement at 8.00am (UK time) today (11 February). To join the call, please use the dial-in numbers below: Dial:    [phone] PIN:    99831684#

For further information, please contact: Halma plc Andrew Williams, Chief Executive Kevin Thompson, Finance Director	Tel: [phone]
MHP Communications Rachel Hirst/Andrew Jaques	Tel: [phone]

Notes:

1.	Adjusted profit before tax is before amortisation of acquired intangible assets, acquisition transaction costs, movement on contingent consideration and profit on disposal of operations.
2.	The Board believes current market forecasts for adjusted profit before tax to be in the range of £136.8m to £143m with consensus of £140.8m.
3.	This Interim Management Statement has been prepared solely to provide additional information to the shareholders of Halma plc, in order to meet the requirements of the UK Listing Authority's Disclosure and Transparency Rules. 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

 

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