StockMarketWire.com - Health and environmental technology group Halma said it expected annual adjusted pre-tax profits to meet market expectations amid strong growth in its USA and UK businesses.

Market expectations for adjusted profit before tax for the year ending 31 March 2019 was in the range of £240.1m to £253.4m, with a consensus of £243.7m.

In the period from 1 October 2018 to date, the reported 'good' progress amid widespread revenue growth geographically.

The USA and the UK had seen the 'strongest growth,' with more moderate growth in Mainland Europe and Asia Pacific, the company said.

Order intake had remained ahead of revenue and the same period last year, and there had been a positive currency translation effect on group revenue and profit in the second half, resulting in a broadly neutral effect for the year as a whole.

The safety sectors had performed in line with expectations, with the strongest progress seen in infrastructure safety, supported by positive contributions from recent acquisitions, the company added.

Process safety was expected to deliver a 'satisfactory' performance for the full year despite planned reorganisation costs in the second half. While the medical and environmental & analysis sectors remained on track to deliver good full-year performances.

'We made three acquisitions in the second half, all in Infrastructure Safety, for a total initial consideration of approximately £62m,' Halma said. 'The acquisitions of Limotec and Navtech were reported in the Group's half year results announcement.'

In January 2019, Rath Communications, a provider of emergency communication systems for Areas of Refuge in the USA, was acquired for $42.4m (£32.6m).

'The integrations of all acquisitions made during the year are progressing well, and the acquisition pipeline remains healthy in all four sectors,' Halma added.




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