Halma posts strong half-year results

Amersham, England--Ocean Optics parent company Halma plc reported record revenue and profit with growth in every sector and all geographic regions for the first half of its fiscal year (ending Oct 2, 2010) year. In his review of the results, Andrew Williams, Chief Executive of Halma, stated, "We achieved revenue growth of 12% and this, together with continued good control of costs, enabled us to deliver adjusted profit growth of 29%."

"There was only a small positive contribution from currency exchange movement and acquisitions. Therefore, underlying organic revenue and profit growth at constant currency was impressive, at 10% and 28% respectively," he said.

Williams also noted that the company has continued to achieve record levels of performance throughout the downturn. "After the significant volatility experienced in 2009, there was a clear change in demand levels at the start of 2010. We saw both a step-up in order intake and greater month-to-month stability," he said. "This has continued throughout the year. We expect to make further progress in the second half, with a more evenly balanced first half to second half trading pattern than we saw last year."

The company's Health and Analysis sector, which includes photonics, reported revenue up 22% and profit up 39%. Geographically, there was double-digit revenue growth in both the UK and the USA whilst Mainland Europe was slightly ahead of the prior year. Outside of these regions, revenue in this sector grew by 40% with Far East and Australasia revenue rising by 48%. "Here our photonics businesses are achieving high levels of growth, benefiting from the fast growing market in low energy lighting and displays," Williams said.

Find out more at www.halma.com