Halma hails another year of record profit

13th Jun 2024 07:42

(Sharecast News) - Halma reported another year of record profit and revenue on Thursday as it hailed a solid performance in the safety and the environment & analysis sectors.

In the year to the end of March 2024, adjusted pre-tax profit rose 10% to £396.4m on revenue of £2.03bn, up 10% on the previous year.

Halma said strong growth in the safety and the environmental & analysis sectors more than offset a decline in the healthcare sector. By geography, growth was led by the company's two largest regions - the USA and mainland Europe - both of which saw strong growth, it said.

The total dividend per share was lifted 7% to 21.61p.

Chief executive Marc Ronchetti said: "2024 was another successful year for Halma. We delivered record revenue and profit, with continued high returns. Strong cash generation enabled us to make substantial investments in opportunities for future growth, while maintaining a strong balance sheet. This success in varied market conditions reflected the commitment of our people to delivering our purpose, the benefits we derive from our Sustainable Growth Model, and the long-term drivers that underpin growth in our diverse portfolio.

"We have made a positive start to the new financial year. Our order intake in the year to date is ahead of both revenue and the comparable period last year. We expect to deliver good organic constant currency revenue growth in the year ahead, and an adjusted EBIT margin of around 21%, in the middle of our target range. We remain well positioned to make further progress this year and in the longer term."