Bought a few for the SIPP |
Blog Post: Halma (HLMA) and Return on Capital |
Nice update as usual |
There is a detailed report on Halma's recent AGM which can be found in our members area here:
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Another cracking set of results Yesterday:
-- Revenue up 19% with Adjusted(1) pre-tax
profit up 17%. Revenue and profit growth
of 4% on an organic constant currency(5)
basis.
-- Revenue and profit growth in all four sectors.
Organic constant currency(5) growth in Infrastructure
Safety, Medical and Environmental & Analysis;
improved performance in Process Safety.
-- Revenue growth in all major regions. Strong
growth in the USA, Mainland Europe and Asia
Pacific, with solid progress in the UK.
-- High returns maintained with Return on Sales(4)
of 20.2% and ROTIC(5) of 15.3%.
-- Sustained strategic investment, supported
by good cash generation and a strong balance
sheet; R&D spend increased to 5.3% of revenue.
-- Acquisition pipeline benefiting from greater
depth and breadth in M&A resources across
all four sectors.
-- Final dividend up 7%. 38(th) consecutive
year of dividend per share increases of
5% or more. |
Jefferies: no reason to question Halma
Safety technology company Halma (HLMA) may have experienced a bump in the road last year but it is still a core holding for Jefferies.
Analyst Andy Douglas reiterated his ‘buy’ recommendation and target price of £10.85 on the stock following a ‘reassuringly solid’ pre-close trading statement. The shares were lifted 5.8%, or 55p, to £10.15 on Thursday.
‘Halma has given the market the reassuring trading update that the market was looking for,’ he said. ‘The bump in the road at the half year was a modest irritation, in our view, and we didn’t see that as a reason to question the group, its qualities, its strategy and its outlook.’
He added that Halma is a ‘very strong, well-managed business that has many impressive qualities and we see it as a core holding that we want exposure to through the cycle’. |
24th march JP Morgan Caz neutral tp 925p up from 910p |
23rd march Numis buy tp 1200p |
Well received :-)
edit:
not by Liberum though....
reiterate 'sell' , target 825p |
Market report:
........Elsewhere, mid-cap engineer Halma enjoyed its best day in 15 months, bouncing 37p higher to 963p, on the back of rating upgrade. Barclays lifted its rating to “overweight” from “equal weight” as it admires the company’s “consistent, long-term record”. |
"IN THE KNOW: Halma Shares Trading At Attractive Valuation - Barclays" |
???? Tipped?? |
bought in today quality business
woody
free stock charts from uk.advfn.com |
From sharecast today:"Halma also declined as Liberum downgraded the stock to 'sell' from 'hold'.The brokerage said the company's first-half results were solid and that defensive market exposure and well-respected management remain attributes."However, acquisitions are becoming harder to move the needle. Moreover, we expect multiple contraction as deflation has come to an end."DD |
A great surprise to see halma drop on results,
Upsetting! |
Think so.Had thought they may have issued a beat expectations today given the tailwind from sterling and euro........perhaps they still will by year end?, still on my watch list.Good luck if already in.DD |
Pension deficit?, the only negative I could see (only had a quick look).DD |
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