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Halma FY profit seen touch below forecasts after Covid-19
19th Mar 2020 07:45
(Sharecast News) - Halma said on Thursday that full-year pre-tax profit will come in a little below market expectations following the outbreak of Covid-19 in the fourth quarter.
The company expects adjusted pre-tax profit for the year ending 31 March 2020 to be between ?265m and ?270m, versus markets forecasts of ?275.5m.
Halma said it made "good progress" in the period from 1 October 2019 to date, but that risks remain "given the evolving and uncertain situation".
"The board will continue to monitor the impact of the Covid-19 outbreak closely and take mitigating actions as appropriate," it said.
Halma said order intake is currently ahead of revenue and ahead of the same period last year, with revenue growth in all four major regions and all sectors.
The USA grew strongly, it said, thanks to positive contributions from recent acquisitions. There was good growth in the UK and more moderate growth in mainland Europe, while strong growth in Asia Pacific was driven by recent acquisitions.
The company expects adjusted pre-tax profit for the year ending 31 March 2020 to be between ?265m and ?270m, versus markets forecasts of ?275.5m.
Halma said it made "good progress" in the period from 1 October 2019 to date, but that risks remain "given the evolving and uncertain situation".
"The board will continue to monitor the impact of the Covid-19 outbreak closely and take mitigating actions as appropriate," it said.
Halma said order intake is currently ahead of revenue and ahead of the same period last year, with revenue growth in all four major regions and all sectors.
The USA grew strongly, it said, thanks to positive contributions from recent acquisitions. There was good growth in the UK and more moderate growth in mainland Europe, while strong growth in Asia Pacific was driven by recent acquisitions.