Halma Plc (LON:HLMA) increased its final dividend 4% as it reported record annual results and a “resilient” 4% fall in revenue in the first quarter of the new year.
The provider of a huge range of ‘life saving technologies’ from sensors for lift doors to pollution control and environmental testing, recommended a 3.8% increase in the final dividend to 9.96p per share, meaning the total payout was 16.5p, up 5% year on year.
Chief executive Andrew Williams said since the start of April sales have only been dented by the coronavirus pandemic due to the 'non-discretionary' demand for many Halma products, while the group has continued to see good cash generation and order intake has been ahead of revenue and the same period last year.
For the current year to next March, Williams and the board currently expect adjusted profit before tax to fall 5-10%.
For the past year, profit before tax climbed 8% to £224.1mln on revenues up 11% to £1.3bn, with acquisitions adding 5% to revenue and adjusted profits.
Ten purchases were completed over the 12 months at a combined cost of £242.6mln and the acquisition pipeline of further potential additions said to be “healthy”.
Net debt finished the year almost two-thirds higher at £375.3mln, despite £307.9mln of cash being generated during the period.