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.

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.

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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."