Halma maintains record run

22nd Jun 2010 07:02

Electronic sensors firm Halma has produced record results for the seventh year in a row and topped analyst forecasts with an increase in adjusted profit of 9%.Profit before tax from continuing operations jumped to £86.2m in the 12 months ended 3 April, up from £79.1m in 2009, trumping expectations of about £82m.A 1% increase in revenue to £459.1m was down to 7% growth at the health & analysis business, which offset a 2% dip at infrastructure sensors and a 4% decline at industrial safety. Revenue fell 3% at constant currency.Geographically, the UK was the biggest drag, as sales dropped 6% to £98.3m, but mainland Europe beefed up revenue by 2% to £135.7m and US sales added 5% to £127.2m. They leapt 59% in China and by 9% in the Far East/Australasia, in line with the company's key strategic objective of international expansion with a focus on Asia.Order intake was 9% higher in the second half than the first, resulting in a 4% rise for the year, and Halma says momentum continued into the new financial year. The order book is up 14% on last year.The group also has a £100m war chest for acquisitions."During the past year it has become clearer that our sustained increased investment in innovation, management and international expansion has made us a stronger business. Our aim for the coming year is to translate this into higher rates of growth and even higher rates of return," said chief executive Andrew Williams."Coming into 2010/11 we have greater momentum than a year ago, particularly in terms of order intake, and are well positioned to achieve growth. Therefore, we look forward to the year ahead with confidence."There's a final dividend of 5.19p per share, an increase of 9%, giving a total payout for the year of 8.5p, up 7 on 2009.