Halma PLC (LON:HLMA) increased its final dividend 4% as it reported record annual results and a “resilient” 4% fall in revenue in the first quarter of the new year.
The provider of a huge range of ‘life saving technologies’ from sensors for lift doors to pollution control and environmental testing, recommended a 3.8% increase in the final dividend to 9.96p per share, meaning the total payout was 16.5p, up 5% year on year.
Revenues rose 11% to £1.3bn for the year to March 31, with profit before tax climbing 8% to £224.1mln.
Acquisitions added 5% to revenue and adjusted profits, with ten purchases completed in the 12 months at a combined cost of £242.6mln and the acquisition pipeline of further potential additions said to be “healthy”.
Net debt finished the year almost two-thirds higher at £375.3mln, despite £307.9mln of cash being generated during the period.
Chief executive Andrew Williams said since the start of April sales have only been dented by the coronavirus pandemic due to the ‘non-discretionary’ demand for many Halma products, while the group has continued to see good cash generation and order intake has been ahead of revenue and the same period last year.
He said this “reflects our clear purpose and focused strategy, our flexible and agile organisation, and the resilient, long-term growth drivers in our chosen markets”.
Published at Tue, 14 Jul 2020 07:03:00 +0000-Halma hikes final dividend as trading remains resilient in first quarter