Halma Share Discussion Threads

[essentialinvestor] 13/8/2012 10:47

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 09:57

agree, out at the moment.

[apad] 13/8/2012 09:55

Fully priced at these levels EI.
apad

[essentialinvestor] 13/8/2012 07:46

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

[cnx] 24/7/2012 16:50

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

[apad] 23/6/2012 07:36

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 10:48

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 10:03

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 06:48

"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 06:16

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 08:53

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 17:51

elmfield yours 203

looks like you got the timing right

[elmfield] 14/5/2012 19:11

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

[elmfield] 28/3/2012 10:26

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 10:22

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

[elmfield] 28/3/2012 10:03

Now am all out for a while.

[elmfield] 14/3/2012 11:00

wonder where we are going?

[cambium] 08/3/2012 18:45

Yep numbers look strong here

[bluebelle] 16/2/2012 08:30

Seems a positive one to me, elmfield - bit surprised to see it marked down, although no volume going through. Story still very much intact in my book.

[elmfield] 16/2/2012 08:25

steady as she goes.

[bluebelle] 16/2/2012 08:11

Halma p.l.c.

Interim Management Statement

16 February 2012


Halma, the leading safety, health and environmental technology
group today makes an Interim Management Statement prior to
its financial year end on 31 March 2012, covering the period
from 2 October 2011 to date.

Based on current trading and forecasts, the Board expects
profit (before amortisation of acquired intangibles and acquisition
costs) for the full year to be in line with market expectations
[see note 2].

The regional and sector trading patterns reported for the
first six months of the financial year have been maintained
with slower growth in the UK but higher rates of growth in
the USA. Good rates of growth have continued elsewhere including
Mainland Europe and emerging markets.

Our Industrial Safety businesses continue to deliver very
strong results and are all benefitting from increasing revenue
from customers in the natural resources and process industries
worldwide.

Our Health and Analysis sector is achieving the highest rate
of revenue growth of the Group, boosted by acquisitions made
last year. Water and Health Optics are performing well whilst
Photonics and Fluid Technology are trading in line with the
first six months.

In Infrastructure Sensors, Fire Detection and Automatic Door
Sensors are making solid progress. Security Sensors and Elevator
Safety are reporting flat revenues in tough market conditions.

The two businesses we acquired in the first half, Kirk Key
Interlock Company, LLC (Industrial Safety) and Avo Photonics,
Inc (Health & Analysis) are trading well and in line with
our expectations.

We have maintained strong returns and good cash generation.
This, together with the GBP260m 5-year revolving credit facility
put in place in October 2011, provides us with financial capacity
for further acquisitions. We continue to search for opportunities
in all three sectors.

There have been no material events or transactions impacting
the Group's financial position which remains strong.

The results for the financial year ending 31 March 2012 are
expected to be released on 14 June 2012.

[apad] 09/1/2012 15:25

Correction 315 followed by 340.

apad

[apad] 09/1/2012 15:24

EI.

In my diary for the 17th.

Based on the reaction to the first half results we might see another nice little buying opportunity after the IMS.

Down to 415 followed by a return to 440 with any luck.

apad

[essentialinvestor] 09/1/2012 14:00

IMS due approx mid Feb.

No acquisitions announced for the last 6 months from memory
following the busy period last year.

[elmfield] 08/12/2011 22:32

depends on the future!