Halma posts progress in trading update

By Tom Kilkelly

22 September 2023

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Buckinghamshire's Halma, a safety equipment and technology company, posted reports of market progress and steady financial performance in its interim results for the six months ended June 2023.

The firm reports that it expects a ''Return on Sales of approximately 20 per cent this year'' which, again according to Halma, is unchanged from their June financial report.

A spokesperson for the firm said: ''We expect the balance of revenue and Adjusted profit before taxation between the first and second half of this financial year to be in line with pre-COVID historical averages.

''Accordingly, in the first half of the year, we expect good organic constant currency revenue growth against a strong comparative period last year, and Return on Sales towards the lower end of our target range.

''Our cash performance is enabling continued investment, both organically and in acquisitions, to expand our opportunities for growth over the medium to longer term.''

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Halma posted a number of acquisitions this year, with a record acquisition spend in the 2023 financial period. The company posted seven acquisitions completed for a maximum total consideration of £397 million.

A second spokesperson for the firm said: ''We continue to actively manage our portfolio of global businesses to ensure that it continues to deliver strong growth and returns and is aligned with our purpose of growing a safer, cleaner, healthier future for everyone, every day.

''We made one small disposal, of our 70 per cent stake in FireMate Software Pty. Ltd. (FireMate), for a total consideration of AUD8.4 million (£4.3m), of which AUD2.1 million (£1.1m) is deferred. Halma will retain FireMate's Nimbus digital solution that enables remote connectivity for fire and evacuation systems.''

Halma's full results for the year ending September 2023 are set to be released in November this year.

By Tom Kilkelly

Tom Kilkelly started working as a freelance journalist for The Business Magazine following his graduation from UCL in 2022.

During his studies Tom became very interested in the works of Irish authors including Samuel Beckett and Flann O'Brien (Brian O'Nolan).

His current role as a freelance business reporter is his first exposure to the world of business journalism. Working at TBM has given Tom the chance to really get to grips with the goings-on in the business hive that is the South East.