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Halma HY Pre-tax Profit Down

Halma plc (HLMA.L) reported that its profit before taxation for the six-month ended 30 September 2020 declined 9% to 96.3 million pounds from 105.8 million pounds in the prior year.

Adjusted profit before taxation decreased 5% to 122.0 million pounds from the previous year.

Profit attributable to equity shareholders was 77.3 million pounds, down from 85.0 million pounds in the prior year. Earnings per share from continuing operation were 20.37 pence compared to 22.40 pence in the prior year.

Revenue for the period decreased 5% to 618.4 million pounds from 653.7 million pounds last year.

The reported revenue decline included an 11% reduction in organic constant currency revenue, a 6% contribution from acquisitions completed last year, and a small negative currency translation effect of 0.4%.

The Board has declared an increase of 5% in the interim dividend to 6.87 pence per share compared to 6.54 pence per share paid last year. The interim dividend will be paid on 5 February 2021 to shareholders on the register on 29 December 2020.

The company now expects adjusted profit before tax for fiscal year 2020/21 to be around 5% below fiscal year 2019/20, compared to prior guidance of 5% to 10% below fiscal year 2019/20.

The company said that, from 1 April 2021, it will operate and report as three sectors to reflect the increasing importance of environmental and healthcare issues and align with its purpose and focus on safety, health and environmental markets.

The company noted that it will combine its two Safety sectors under a single Sector CEO and appoint a separate Sector CEO and M&A team for each of its Medical and Environmental & Analysis sectors.

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