Halma's full-year profit dips despite record revenue

11th Jun 2015 08:20

Halma reported record revenue in its full-year results, but slightly lower profit, as costs related to restructuring and acquisitions provided a drag.Pre-tax profit dipped 4% to £133.6m for the 12 months to 28 March, from £138.7m over the same period a year earlier.This comes as a 7% swell in revenue to £726.1m from £676.5m, was offset by £20m of one-off costs related primarily to three acquisitions.However, on an adjusted basis, pre-tax profit was up 10% to £153.6m from £140.2, led by the Process Safety and Infrastructure Safety sectors.Geographically, growth in developing markets, which now account for 27% of total revenue, outshone performances in the UK, Europe and the USA.The company has restructured operations and management into four market sectors. Halma said the move had gone "extremely well".Halma proposed a final dividend of 7.31p , lifting its total dividend to 11.96p, up from 11.17p a year before."Halma has delivered a strong performance, achieving record revenue and profit for the twelfth consecutive year," said chief executive Andrew Williams."Widespread organic growth, three acquisitions and one disposal once again demonstrated the benefits of having a clear growth strategy, a simple financial model and a customer-focused organisation," he added.As of 9:45 BST, Halma was trading 1.2% higher at 9p.