Halma lifts dividend as profits rise to record high
Safety equipment outfit has reported record revenues and profits for the 12 months to 31 March, with both rising by double-digit percentages, as it lifted its dividend by 7%.
The company, which makes hazard detection and life protection equipment, reported revenues of £2.25bn, up 11% over the year, as 18% growth in the Environment and Analysis sectors made up for a more modest 3.2% improvement in Healthcare.
On a regional basis, revenues were higher across all geographies, including double-digit growth in the US and Asia Pacific.
Adjusted earnings before interest and tax were 15% higher at £486m, helped by an improvement in the adjusted EBIT margin to 21.6% from 20.8%.
"Achieving such a strong performance amidst varied market conditions and a challenging economic and geopolitical backdrop is a testament to the fundamental strengths of our Sustainable Growth Model," said chief executive Marc Ronchetti.
"These include our positive purpose and culture, and a diverse portfolio of companies, each with strong positions in their markets and growth underpinned by long-term drivers."
The company declared a final dividend of 14.2p per share, taking the full-year payout to 23.12p, up from 21.61p previously.
The new financial year has started positively, Halma said, with a strong order book and order intake ahead of last year.
The company pointed to organic revenue growth at constant currencies in the upper single-digit percentage range, with adjusted EBIT margins expected to be above the middle of the 19-23% guidance.
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