Interim Management Statement

RNS Number : 1641N

Halma PLC

24 July 2014

 



Halma plc

AGM/Interim Management Statement

24 July 2014

Halma, the leading safety, health and environmental technology group is holding its 120^th AGM later today and makes the following Interim Management Statement relating to the period 30 March 2014 to date, with comments on trading relating to the first quarter ended 28 June 2014.  

Market conditions have remained varied within our four sectors and the major geographic regions, while the increasing strength of sterling continues to provide a translation headwind. However, Halma has continued to achieve organic revenue growth at constant currency with order intake at 103% of revenue. This, together with the acquisitions completed in the first quarter, has positioned Halma to make further progress in the year ahead in line with the Board's expectations.

Process Safety performed well with growth from the USA, Mainland Europe, Middle East and South America offsetting lower revenue from Asia Pacific. The integration of RCS, the pipeline corrosion monitoring business acquired in May 2014, has started well and collaboration with Halma's other Process Safety companies is already underway.

The Infrastructure Safety sector made solid progress with encouraging growth in the UK and Mainland Europe. The integration into Halma of Advanced Electronics, the fire safety company acquired in May 2014, is also proceeding well.

Our Medical sector had a slow start to the year but is gaining momentum with good underlying growth in the USA and South America.  Plasticspritzerei, acquired in May 2014, has been fully integrated into Medicel, the Halma company which manufactures devices for cataract surgery procedures.

The Environmental & Analysis sector delivered a mixed performance.  Revenue growth in Mainland Europe and Asia Pacific has been encouraging although trading in the USA and UK has been more challenging. UK revenue has been affected by lower spending by water utilities which are now in the final year of their 5-year investment cycle.

As reported previously, since the start of the period we have completed three acquisitions and one disposal with a net cash cost of £78m.  There have been no other material events or transactions during the period impacting upon the Group's financial position, which remains strong.  We continue to identify potential acquisition opportunities which meet our strategic and financial criteria.

The half yearly results for the period ending 27 September 2014 are expected to be released on 18 November 2014.

For further information, please contact:

Halma plc                                                       Tel: [phone]

Andrew Williams, Chief Executive

Kevin Thompson, Finance Director

MHP Communications                                        Tel: [phone]

Rachel Hirst/Andrew Jaques

NOTE TO EDITORS
1.	Halma develops and markets products used worldwide to protect life and improve the quality of life. The Group comprises four business sectors:

	●  Process Safety	Products which protect assets and people at work.
	●  Infrastructure  Safety	Products which detect hazards to protect assets and people in public spaces and commercial buildings.
	●  Medical	Products used to improve personal and public health.
	●  Environmental & Analysis	Products and technologies for analysis in safety, life sciences and environmental markets.

	The key characteristics of Halma's businesses are that they are based on specialist technology and application knowledge, offering strong growth potential.  Many Group businesses are market leaders in their specialist field.
2.	High resolution photos of Halma senior management, including Chief Executive Andrew Williams, and images illustrating Halma business activities can be downloaded from its website: www.halma.com.  Click on the 'News & Media' link, then 'Image Library'.  Photo queries:  David Waller [phone], e-mail: [e-mail].
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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