AGM Statement

RNS Number : 5199W

Halma PLC

30 July 2009

 



HALMA p.l.c. AGM Trading Update / Interim Management Statement 30 July 2009 Halma, the leading safety, health and sensor technology group, is holding its 115th AGM later today, at which Geoff Unwin, Chairman, will make the following statement. This announcement comprises the Group's Interim Management Statement relating to the period 29 March - 30 July 2009 and covers the first quarter's trading. 'Trading during the first quarter of the financial year has been in line with the Board's expectations. 'The pattern established at the end of 2008/09 continues with weekly revenues averaging 3% below prior year levels. Order intake has been slightly ahead of revenue in absolute terms. Health and Analysis is showing signs of improved performance, with increased profitability in the Photonics business resulting from the actions taken earlier in the year. As expected, Infrastructure Sensors and Industrial Safety have continued to experience relatively weaker market conditions, particularly in the UK. Product margins remain strong across all three sectors. 'Actions to reduce overhead costs by a total of £15m on an annualised basis (compared with the second half of 2008/09) are substantially complete. Restructuring costs are still expected to be £2.5m in the full year, with approximately £2m of this cost taken in the first half.   'The Group continues to operate well within its banking covenants and there have been no material events or transactions impacting the Group's financial position, which remains strong. We continue to look for acquisition opportunities in our existing markets which meet our demanding requirements.   'The half-yearly results for the period to 3 October 2009 are expected to be released on 3 December 2009.'

For further information, please contact:
Halma p.l.c. Andrew Williams, Group Chief Executive Kevin Thompson, Group Finance Director	Tel: [phone]
Hogarth Partnership Limited  Rachel Hirst/Andrew Jaques	Tel: [phone]

Notes:

1.

This Interim Management Statement has been prepared solely to provide additional information to the shareholders of Halma p.l.c., 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.

2.

A copy of this announcement, together with other information about Halma, may be viewed on its website: www.halma.com.

 

END

 

 

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