Interim Management Statement

RNS Number : 9787G

Halma PLC

11 February 2010

 



Halma p.l.c. Interim Management Statement 11 February 2010 Halma, the leading safety, health and sensor technology group today makes an Interim Management Statement prior to its financial year end on 3 April 2010.  This Interim Management Statement covers the period from 4 October 2009 to date. Based on current trading and forecasts, the Board expects profit (before amortisation of acquired intangibles) for the full year to be higher than the top of the range of market expectations. The Board believes the current range of market expectations is £78.9million to £82.1million (2008/09 profit before amortisation of acquired intangibles: £79.1million). During the past four-month period, average weekly revenue was 3% higher than we reported for the first half-year ending 3 October 2009.  Order intake was ahead of revenue, continuing the positive trend of the first half.  The impact of currency exchange rate movements has been broadly neutral relative to the first half. In recent months, profitability has improved in all our three sectors, each benefiting from the actions taken earlier in 2009 to reduce fixed and variable costs.  Health and Analysis continues to perform strongly and is expected to report growth in both revenue and profit for the full year.  Demand levels in Infrastructure Sensors have continued to be resilient and this, combined with a lower cost base, should enable it to achieve profit growth for the full year.  In Industrial Safety, trading has improved gradually although full year revenue and profit are still expected to be below last year's record levels. On 22 January 2010, we announced the acquisition of SphereOptics, LLC for an initial cash consideration of $2.5m (£1.5m) with a deferred purchase consideration of up to $3.5m (£2.1m) based on the growth in profit before tax for the period ending March 2012.  SphereOptics manufactures and distributes precision products for use in high technology light measurement applications.  Its integration within our Health and Analysis business is proceeding to plan. There have been no material events or transactions impacting the Group's financial position which remains robust and cash generation continues to be strong.  We remain well placed to acquire businesses which meet our demanding requirements. The results for the financial year ending 3 April 2010 are expected to be released on 22 June 2010. For further information, please contact:

Halma p.l.c. Andrew Williams, Chief Executive Kevin Thompson, 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

 

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