Shares in Halma PLC (LSE:HLMA), the safety and environmental technology group, edged up 1.13% to 3,952p after confirming its 23rd consecutive year of record profit.
Analysts were broadly relaxed about the update, which comes after the shares hit an all-time high of 4,200p hit in late February before dropping over 9% to below 3,750p after the conflict in the Middle East broke out.
In a short pre-close update, the FTSE 100 company reiterated full-year guidance for organic revenue growth in the mid-teens and an adjusted operating profit margin of around 22%, with cash conversion expected to meet its 90% target.
Halma also confirmed a record year for acquisitions, completing five deals totalling £451 million, including the £29 million purchase of Altomed, a UK maker of specialist eye surgery instruments, last month.
Order intake remains ahead of both revenue and last year's comparable period, providing a solid platform for the year-end results due on 11 June.
Peel Hunt analyst Lauren Baker said the update confirmed "strong progress in the second half" with no changes to forecasts expected beyond the addition of some acquisition contribution.
UBS, which carries a 'buy' rating and 12-month price target of 4,200p, said the trading statement contained little to surprise but noted Halma had beaten second-half profit expectations in four of the last five years.
The Swiss bank added that the key question for investors was 2027 guidance, particularly around growth assumptions for its Photonics division, though it would not emerge for another three months.