Halma PLC (LSE:HLMA), the safety products conglomerate, is due to provide a second-quarter update on Thursday 26 September, following a good report for its previous fiscal year – although that was back in June.
Progress in its latest year included 10% revenue growth for the 12 months to 31 March, making the 21st consecutive year of growing revenue and profit, while also listing the top line above £2 billion for the first time.
The outlook statement from chief executive Marc Ronchetti at the time was that "a positive start" had been made to the new 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."
With the half-year ending a week next Monday, the FTSE 100 group has not provided a trading update since, with its only statement being an announcement about the €43 million acquisition of a Portuguese fire alarm maker (pictured).
Based on its 21-year record and the fact that no warning has been issued, it's fairly safe to assume nothing has gone wrong for the group since June's final results.
Things to watch in the update include the rate of growth and the number of acquisitions, with Halma having completed eight for a total of £292 million last year and since updated on two in the current year for around £80 million.
Broker Peel Hunt has forecast overall revenue growth of 7.5% for this year, 6% organic, 2.5% from M&A, offset by a 1% FX headwind.
"The Halma model continues to prove it can deliver, even in mixed market conditions as experienced in FY24," analysts said, adding that they believe the share price premium rating is "justified" and increased the target price from 2,200p to 2,500p, resulting in a 'hold' recommendation.