Halma PLC
14 February 2008
Halma p.l.c.
Interim Management Statement
14 February 2008
Halma, the leading safety, health and sensor technology group today makes an
Interim Management Statement prior to its financial year end on 29 March 2008.
The trading trends of the first half, as outlined in the half year report
published on 29 November 2007, have continued. Order intake has continued to
show steady organic growth and all three business sectors are making progress.
Strategic actions to grow geographically and to deepen our presence in our
markets continue.
In Infrastructure Sensors, we have concluded a JV agreement with a leading
Chinese fire detector supplier, for the design, manufacture and sale of fire
detection products in China. Our total investment is RMB35 million (£2.5
million) for a 51% ownership with sales from the new company scheduled to start
early in the next financial year.
Riester, our new Health and Analysis business acquired in December 2007, is
meeting our expectations, whilst our Industrial Safety businesses continue to
perform well.
On 25 January 2008, we sold Post Glover Lifelink (PGL) to Metalrax Group plc for
a consideration of US$6 million (£3 million). PGL was originally part of our
Resistors division which we sold in 2006 and their activities were no longer
core to our future growth plans. PGL's annualised revenue was £3.4 million and
annualised profit before tax was £0.6 million.
Our financial position remains strong. We have extended our bank facilities,
with a new 5-year £165 million syndicated revolving credit facility replacing
our existing £60 million facility, on similar terms. This additional financial
headroom will enable us to continue to make acquisitions in accordance with our
demanding criteria as the right opportunities arise.
The Board expects our full year profit to be within the range of market
expectations for continuing operations and remains confident in the outlook for
the current year and medium term.
The results for the financial year ending 29 March 2008 are expected to be
released on 17 June 2008.
For further information, please contact
Halma p.l.c. Tel: +44 (0)1494 721111
Andrew Williams, Group Chief Executive
Kevin Thompson, Group Finance Director
Hogarth Partnership Limited Tel: +44 (0)20 7357 9477
Rachel Hirst/Andrew Jaques
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
This information is provided by RNS
The company news service from the London Stock Exchange
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