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Halma shares surge to new highs as interims impress

“We grew revenue in all four major regions, with organic constant currency revenue growth in our four major regions and in all of our business sectors”, said the smoke detectors maker

Halma -
The FTSE 100 firm works across medical, infrastructure safety, and environmental sectors

Halma PLC’s (LON:HLMA) shares jumped to new highs after the maker of smoke detectors and lift door sensors reported 12% higher revenues and growth across all its regions in the first half of the year.

In its half-year results on Tuesday, chief executive Andrew Williams said that order intake in the second half has continued to be ahead of last year.

READ: Halma to buy Australia-based Ampac for A$135mln

The FTSE 100 group, which works across medical, infrastructure safety, and environmental sectors, posted revenues in the first half of the year rising to £653.7mln, with the US continuing to be its largest sales destination and growing 15% on last year.

The manufacturer said that its sales in Asia Pacific picked up 21%, followed by 9% growth in UK sales, and mainland Europe up 9%.

Pre-tax profits matched revenues with a 12% surge to £105.8mln, but net debts piled up to £310mln reflecting an active acquisition strategy.

“We grew revenue in all four major regions, with organic constant currency revenue growth in our four major regions and in all of our business sectors”, said the company, which it said was supported by its acquisitions and a favourable currency translation in the six months to the end of September.

Five acquisitions were completed in the period, including July’s purchase of Australia and New Zealand-based fire detection company Ampac for A$135mln cash.

Halma has completed two further US-based acquisitions in the second half, including business services group Infowave for US$8.3mln and glaucoma surgery devices maker NeoMedix for US$8.1mln.

The shares jumped 12% to 2,120p in Tuesday morning trading.

Quick facts: Halma

Price: 2165 GBX

LSE:HLMA
Market: LSE
Market Cap: £8.22 billion
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