StockMarketWire.com - Halma (HLMA) continued to make good progress in line with the board's expectations.

Revenue was ahead of the first quarter of the prior year and included good organic constant currency growth on a weekly average basis.

Order intake was ahead of revenue and also above order intake in the first quarter of the prior year.

There was strong revenue growth in the Infrastructure Safety and Medical sectors with steady progress in the Environmental & Analysis sector.

As expected there was lower revenue in process safety. Based on improving order intake trends and continued diversification, the sector is better positioned to improve its performance as the year progresses.

There was revenue growth in all of our major geographic regions, with the highest rates of growth in the US and Mainland Europe.

At the end of June, sterling weakened relative to many currencies, including the US dollar and euro.

If current exchange rates continue throughout the rest of the current financial year, the currency translation impact on the group's results is expected to be positive.

Based on the current mix of currency denominated revenue and profit, a 1% movement in the US Dollar changes full year revenue by £4.3m and profit by £0.9m.

Similarly, a 1% movement in the euro changes full year revenue by £1.1m and profit by £0.2m.

The weighted average exchange rates relative to sterling used to translate revenue and profit for the year ended 2 April 2016 were: US dollar 1.51, euro 1.37.

The board remains confident that the resilient and global long-term growth drivers in our chosen markets will continue to underpin Halma's growth.

The focus on safety, health and environmental technologies together with our agile organisational model, which encourages local decision making within each subsidiary company, ensures that the business is able to adapt quickly to changing market conditions.

The company continued to identify potential acquisition opportunities that meet our strategic and financial criteria.

The group's financial position remains strong.

The half yearly results for the period ending 1 October are expected to be released on 22 November 2016.




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