Halma PLC Trading update (7856Z)
23 Settembre 2020 - 8:00AM
UK Regulatory
TIDMHLMA
RNS Number : 7856Z
Halma PLC
23 September 2020
Halma plc
Trading update
23 September 2020
Halma today releases its scheduled trading update, for the
period from 1 April 2020 to date, and confirmation of a management
appointment to its Executive Board.
Halma has delivered a resilient performance during the period in
line with the Board's expectations and, despite the operational
challenges arising from the Covid-19 pandemic, the Group has
continued to benefit from the long-term growth drivers in its
markets, the breadth of its portfolio and the agility of its
business model.
At the end of the first quarter we reported that revenue was 13%
lower than last year on an organic constant currency basis. Since
then, the Group's revenue trends have gradually improved, while
continued control of costs and working capital have protected
profit and ensured good cash generation. Order intake was ahead of
revenue albeit marginally down on the same period last year. Given
the evolving and uncertain situation in our major markets, the
Board continues to expect Adjusted profit before tax (note 1) for
FY2021 to be 5%-10% below FY2020 and more weighted to the second
half than in previous years.
There has continued to be a significant variation in demand in
individual end-markets and geographic regions. The USA and Mainland
Europe regions have delivered the most resilient overall trading
performances. The UK and Asia Pacific have remained more
challenging, although the latter has benefited from prior year
acquisitions and a gradual recovery in China.
The Environmental & Analysis sector has performed well, and
the Medical sector has started to see a modest improvement in
demand for products related to elective surgical and diagnostic
procedures. The Safety sectors were impacted by limitations of
physical access to sites in the first quarter, however this has
steadily improved during the second quarter to date.
The currency translation effect on the Group's results in the
first half of the year is expected to be broadly neutral.
The Group's financial position remains robust, with committed
facilities totalling approximately GBP750 million at current
exchange rates. The earliest maturity in these facilities is for
GBP73 million in January 2021, with the remaining maturities from
2023 onwards. Our sector M&A teams have been actively
cultivating opportunities, and the Group continues to see a healthy
acquisition pipeline for the future.
The results for the half year ending 30 September 2020 will be
released on 19 November 2020.
New Group General Counsel and Executive Board member
On 14(th) September 2020, Funmi Adegoke joined Halma as our
Group General Counsel. Funmi will continue our work to maintain a
strong legal and compliance capability to support the Group's
growth, including oversight of our Company Secretariat
activities.
Before joining Halma, Funmi spent nine years at BP in various
roles, most recently as Managing Counsel for BP's Downstream
Commercial Development and Transformation business. Prior to BP,
Funmi held senior legal and commercial roles with Bombardier. Funmi
is a qualified Barrister and holds a law degree from the University
of Cambridge. She is a Non-Executive Director of Melrose Industries
plc.
For further information, please
contact:
Halma plc
Marc Ronchetti, Chief Financial
Officer +44 (0)1494 721111
MHP Communications
Rachel Hirst/ Giles Robinson +44 (0)20 3128 8788
About Halma
Halma is a global group of life-saving technology companies,
focused on growing a safer, cleaner, healthier future for everyone,
every day. Our innovative products and solutions address many of
the key issues facing the world today. We operate in four sectors:
Process Safety, Infrastructure Safety, Medical and Environmental
& Analysis. We employ over 7,000 people in more than 20
countries, with major operations in the UK, Mainland Europe, the
USA and Asia-Pacific. We target global niche markets where
sustainable growth and high returns are supported by long-term
drivers. Halma is listed on the London Stock Exchange and has been
a member of the FTSE 100 index since December 2017.
Notes
1. Adjusted profit before tax is before amortisation and
impairment of acquired intangible assets, acquisition items,
restructuring costs and profit or loss on disposal of
businesses.
2. This Trading Update is based upon current management accounts
information. Forward-looking statements have been made by the
Directors in good faith using information available up until the
date that they approved this statement. Forward-looking statements
should be regarded with caution because of the inherent
uncertainties in economic trends and business risks, including the
effects of the current COVID-19 outbreak.
3. A copy of this announcement, together with other information
about Halma, may be viewed on our website www.halma.com
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