Order intake remained ahead of both revenue and the very strong order intake in the comparable period last year. Our order book is exceptionally strong, having grown from the record level seen at the start of the year. We saw strong demand for our companies’ products and services in the period. We maintained a strong balance sheet, while further enhancing our growth opportunities through increased strategic investment to support future growth, both organically and through acquisitions. We delivered record revenue, Adjusted 1 Profit and interim dividend, with growth in all sectors and regions. “Halma made further good progress in the first half. Announced last week appointment of Steve Gunning as Chief Financial Officer, effective 16 January 2023.Īndrew Williams, Group Chief Executive of Halma, commented:.7% interim dividend increase, continuing our progressive dividend policy and reflecting the Board’s continued confidence in the Group’s long-term growth prospects.Continued balance sheet strength: net debt/EBITDA of 1.2 times, supporting future increased organic investment and acquisitions a promising acquisition pipeline.Cash conversion 11 63%, below 90% target: includes strategic inventory investment to maintain supply chain resilience and support a very strong order book continued good working capital control.Three acquisitions this financial year (two in H1) consideration 10 of £238m. Increased strategic investment: R&D investment £50m, up 20% (5.7% of revenue).Strong Return on Sales 4 of 19.6% (2021/22: 21.0%), above pre-COVID levels 8 and reflecting the planned normalisation of overhead costs.Growth in all sectors and regions: revenue growth in all sectors and regions Adjusted 1 Profit growth in all sectors (including on an organic constant currency 6 basis).Revenue and Adjusted 1 Profit growth on an organic constant currency 6 basis: up by 9% and 2% respectively.Statutory Profit before Taxation down 13% principally due to the gain on disposal of £34.0m in the first half of last year up 9% excluding this gain.Record revenue and Adjusted 1 Profit: revenue up 19% Adjusted 1 Profit before Taxation up 11% compared to H1 2021/22 further sequential growth from second half of 2021/22.Strong growth and returns increased investment on track for full year Environment Commitment Statement and Supplier Statement.Our sustainability approach and progress.Our markets and their long term growth drivers.
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