Halma on track to hit full-year profit targets

10th Feb 2015 10:12

Health, safety and environmental tech group Halma expects pre-tax profit to be in line with full year expectations based on current trading and forecasts.The second half of the financial year, ending 28 March 2015, is expected to continue the trading patterns established in the first half, with organic constant currency growth across all regions and order intake coming in to rest slightly ahead of revenue.The US maintained strong growth rates, while steady progress was made across the UK, Europe and Asia.Due to movements in exchange rates, currency translation is now expected to have only a 2% adverse effect on full year results, less than the 3% estimated at the time of the half year results, Halma stated.Scott Cagehin, analyst at Numis Securities said of the results: "Overall, we remain positive on Halma's business model as it is exposed to less cyclical markets, geared to non-discretionary spend and regulatory drivers which has led to a strong through-cycle track record."Halma confirmed that the group will continue to identify potential acquisition opportunities, provided they are in line with its strategic and financial criteria and that market share gains through international expansion remains a focus.