Halma backs FY guidance after progress in first half

26th Sep 2024 08:31

(Sharecast News) - Halma backed its guidance for the full year on Thursday as it said further progress was made in the first half in trading conditions "which remain varied across our end markets".

For the year to March 2025, it still expects "good" organic constant currency revenue growth and an adjusted EBIT margin of around 21%. This is in line with the guidance given in June.

In the first half of the year, Halma expects to deliver "good" organic constant currency revenue growth, supported by group order intake in the year to date which is ahead of both revenue and the comparable period last year.

The company expects the adjusted EBIT margin to be modestly higher than in the first half of the prior year, consistent with its guidance for the year as a whole.

"We also expect to deliver a strong cash performance, enabling substantial investments, both organically and in acquisitions, to further expand our opportunities for growth over the medium to longer term," it said.

Halma noted that it made four acquisitions in the first half, all in the safety sector, for around £85m.

"We continue to have a healthy acquisition pipeline across all three sectors," it said.