Halma Share Discussion Threads

[wjccghcc] 22/11/2012 11:55

Nope apart from valuation. Added a few on the results.

[apad] 22/11/2012 10:45

Been through the interims looking for negatives and can't find any.
Half year to half year doesn't throw up any inconsistencies I can find.
Without the acquisitions and disposal their debt would have dropped significantly.
On this basis I have marked HLMA as an "increase" for my portfolio.
Anyone found any negatives?
apad

[bluebelle] 20/11/2012 08:34

Adjusted pre-tax profit from continuing operations1 up 6% to £60.8m (2011/12: £57.5m) on revenue up 6% at £298.1m (2011/12: £280.0m).


Organic growth2 at constant currency: Profit up 3%, Revenue up 3%.


Strong growth in Asia Pacific and Australasia with revenue up 17% including 32% growth in China. Good overall revenue performance in developed regions, with USA up 19% offsetting weaker demand in UK and Europe.


Health and Analysis and Industrial Safety Sectors performed strongly with double-digit profit growth. Infrastructure Sensors profit marginally lower - Elevator Safety reorganisation completed on schedule.



High level of returns maintained: Return on Sales3 of 20.4% (2011/12: 20.5%), Return on Total Invested Capital of 16.4% (2011/12: 16.9%) and Return on Capital Employed of 71.6% (2011/12: 68.8%).


Three acquisitions and one disposal completed during the period, acquisition pipeline remains healthy.


Adjusted earnings per share from continuing operations4 up 5% to 12.34p (2011/12: 11.75p). Statutory earnings per share up 25% to 13.14p (2011/12: 10.52p).


Interim dividend of 4.06p per share, up 7% (2011/12: 3.79p).


Net debt of £74m at period end (March 2012: £19m). Borrowing facilities of £260m in place until 2016, providing significant financial capacity for further organic growth and value adding acquisitions.







Andrew Williams, Chief Executive of Halma, commented:

"Halma made good progress during the period, achieving record revenue and profit and strong returns.

Our focus on building strong positions in markets with sustainable, long-term growth drivers such as Health and Safety regulation, increasing demand for healthcare and the need for life-critical resources (including energy and water) is providing both resilience and opportunities to grow. Order intake continues to be slightly ahead of revenue and Halma remains on track to make further progress in the second half of the year."

[bluebelle] 12/11/2012 15:03

Halma plc will be announcing its Half Year Results and the
interim dividend for the
26 weeks ended 29 September 2012 on Tuesday, 20 November
2012.

[jodi17qad] 20/9/2012 17:24

What has caused the rise today, I wonder.

Anyone noticed any news?

[bluebelle] 20/9/2012 16:50

As I've often said before, some of the best stocks have the quietest bbs.

[essentialinvestor] 13/8/2012 19:29

From the AGM statement.

[apad] 13/8/2012 19:23

EI,
The 2% figure was in the last rns.
Is your 2% from somewhere different?
apad

[essentialinvestor] 13/8/2012 11:47

It's not so much a comment on HLMA btw, I use it as an indicator of how tough
the global economy is -- as Halma choose high growth markets
and choose these very carefully.

[elmfield] 13/8/2012 10:57

agree, out at the moment.

[apad] 13/8/2012 10:55

Fully priced at these levels EI.
apad

[essentialinvestor] 13/8/2012 08:46

Organic growth of 2% on the latest update, may indicate how quickly
the global economy is now slowing imv.

[cnx] 24/7/2012 17:50

another good trading update. i don't see anything to concern me near term

[apad] 23/6/2012 08:36

EI
Operating Cash Flow year on year is more or less constant.
However, 2nd half increase is significant (60 cf 45). This has offset the first half drop (36 cf 49).
apad

[essentialinvestor] 15/6/2012 11:48

ADAP, any further thoughts on the HLMA cashflow at the finals appreciated,
cash generation looks to have been far stronger on the full year look
than at the interim stage - unless I am misreading this.

[bluebelle] 15/6/2012 11:03

Yes, I'm surprised the dividend performance hasn't attracted more attention - I've certainly appreciated it over the years !

[colino bambino] 14/6/2012 07:48

"the 33rd consecutive year of dividend increases
of 5% or more."

The usual solid performance that we have become accustomed to.

[bluebelle] 14/6/2012 07:16

HALMA plc

PRELIMINARY RESULTS FOR THE 52 WEEKS TO 31 MARCH 2012

14 JUNE 2012

Record results and continued dividend growth



Halma, the leading safety, health and environmental technology
group, today announces its preliminary results for the 52 weeks
to 31 March 2012.


Highlights include:

-- Pre-tax profit(1) from continuing operations up 15% to
GBP120.5m (2011: GBP104.6m) on revenue up 12%
at GBP579.9m (2011: GBP518.4m).

-- Organic growth(2) at constant currency: Profit up 5%,
Revenue up 6%.

-- High and increased level of returns achieved, Return
on Sales(3) of 20.8% (2011: 20.2%), Return on Total Invested
Capital(2) of 16.8% (2011: 15.5%) and Return on Capital
Employed(2) of 74.7% (2011: 71.9%).
-- Strong revenue growth in developed regions, with UK up
18%, Europe up 12% and US up 8%. Revenue from markets
in the rest of the world up 11% including 25% growth
in China.
-- All three sectors reported increased revenue and profit,
with particularly strong performances in
Health and Analysis and Industrial Safety.

-- Adjusted earnings per share(4) from continuing operations
up 19% to 24.46p (2011: 20.49p). Statutory earnings per
share up 20% to 23.01p (2011: 19.23p).
-- A final dividend of 5.95p per share, making a record
total dividend of 9.74p per share for the year. The increase
of 7% marks the 33rd consecutive year of dividend increases
of 5% or more.
-- Two acquisitions and one disposal completed during the
year with three further acquisitions completed since
the year end.
-- Good cash generation resulting in year-end net debt of
GBP18.7m (2011: GBP37.1m). Strong balance sheet with
borrowing facilities of GBP260m in place until 2016 providing
significant financial capacity for further organic growth
and value adding acquisitions.


Andrew Williams, Chief Executive of Halma, commented:

"Our focus on safety, health and environmental technology is continuing
to provide opportunities for growth in both developed and developing
regions. 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. These qualities are reflected in this year's performance
and in Halma's track record of growth and high returns over a
long period. We expect to continue to make progress in the year
ahead."

[bluebelle] 31/5/2012 09:53

Good move, IMHO. I like acquisitions which are bang on the core strategy, which this clearly is.


Halma plc ('Halma')

ACQUISITION

Halma, the leading safety, health and sensor
technology group, today announces the acquisition
of SunTech Medical Group Limited ("SunTech")
on 31 May 2012.

SunTech (www.suntechmed.com) is a pre-eminent
supplier of clinical grade non-invasive blood
pressure monitoring products and technologies.
They sell both under the SunTech brand and
through a variety of medical device OEMs which
incorporate SunTech products into their own
patient monitoring systems. The company manufactures
at its headquarters in Morrisville, North Carolina,
USA and in Shenzhen, China with a sales office
in Eynsham, UK.

The initial cash consideration is $46.0 million
(GBP29.7 million) for the share capital plus
$5.0 million (GBP3.2 million) for cash retained
in the business. The combined consideration
is adjustable Dollar for Dollar based on the
level of working capital and cash at closing.
Working capital, excluding cash, is expected
to be approximately $8.3 million (GBP5.4 million).

Contingent consideration of up to $6.0 million
(GBP3.9 million) is payable if earnings for
the year to December 2012 exceed a pre-determined
target. Unaudited accounts, adjusted for non-recurring
expenses, for the financial year ended 31 December
2011 show revenues of $23.0 million (GBP14.8
million) and an operating profit of $5.4 million
(GBP3.5 million). Current trading remains good.

SunTech is being acquired from management and
a group of private shareholders including small
private institutions and trusts. Existing management
will remain in place and will continue to operate
the business. The acquisition, which is expected
to be immediately earnings enhancing, has been
funded from Halma's cash and debt facilities.

SunTech will join Halma's Health and Analysis
sector within the Health Optics sub-sector
which includes Riester, Keeler, Volk and Accutome.
SunTech is particularly complementary to Riester,
which already sells blood pressure and vital
signs monitors in over 50 countries worldwide.
Andrew Williams, Halma's Chief Executive, commented:

"The acquisition of SunTech continues our strategy
of building strong positions in markets with
resilient long-term growth drivers. Their blood
pressure monitoring technology is a perfect
complement to Riester's own clinical grade
blood pressure monitoring devices and this
acquisition allows the two companies to work
together to further develop their markets and
products.

[cnx] 21/5/2012 18:51

elmfield yours 203

looks like you got the timing right

[elmfield] 14/5/2012 20:11

This has held up quite well, still sitting out, no rush to get in again.

[elmfield] 28/3/2012 11:26

I am selling out of quite a few things and waiting over the summer to see how things go, feel market is ahead of itself, but hey what do I know!
early summer so not sell in may, sell in april and go away till after the olympic farce.

[essentialinvestor] 28/3/2012 11:22

One of the longest periods without an acquisition that I can remember.

[elmfield] 28/3/2012 11:03

Now am all out for a while.

[elmfield] 14/3/2012 11:00

wonder where we are going?