Halma defies the gloom with double digit growth
Technology group Halma kept its impressive record of growth intact as it reported double digit profit growth.
Technology group Halma kept its impressive record of growth intact as it reported double digit profit growth.
Full year profits were up 15% to £120.5m on revenue that rose 12% to £579.9m.
Earnings per share were up 19% to 24.46p, all of which put it in line with expectations.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The health and safety technology firm announced a record total dividend of 9.74p per share for the year, marking an impressive 33rd consecutive year of dividend increases of 5% or more.
Halma shrugged off the economic doom and gloom with strong growth in developed regions, including the UK, where revenue was up 18%. Europe saw 12% growth, while the US was up 8%.
Revenue from markets in the rest of the world was up 11% including 25% growth in China.
The company said it could make progress even in uncertain markets and looked forward to doing the same in the coming year.
"Our focus on safety, health and environmental technology is continuing to provide opportunities for growth in both developed and developing regions," said Chief Executive Andrew Williams.
"The combination of strong local operational management and active portfolio management ensures that we are able to deliver short-term financial performance and invest for growth in the longer term."
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Inheritance tax pension reforms will delay payments to grieving families and the taxmanThe government is pressing ahead with plans to charge inheritance tax on pensions but there are warnings that it will be harder for executors to administer an estate and pay HMRC
-
More than a million pensioners set to be hit by tax on savings accountsA combination of higher interest rates and frozen tax thresholds is dragging more people into paying tax on their cash savings
