StockMarketWire.com - Safety equipment company Halma upgraded its outlook on annual profit following 'strong progress' in the first of the year as sales growth topped expectations.

'[W]e currently expect adjusted profit before tax for the full year to be slightly ahead of our previous guidance,' the company said.

The company previously said it expected to deliver full-year low double-digit percentage organic constant currency profit growth.

The upbeat outlook followed first-half financial performance that had been ahead of the board's expectations, with revenue growth and return on sales exceeding expectations and historic levels, the company said.

Profit in the first half of the year was expected to benefit from a slower-than-expected return of variable overhead costs amid easing pandemic restrictions.

Looking to the second half of the year, the company said it expected more typical rates of revenue growth and return on sales in the second half of the year, with the latter more in line with historic levels as variable overhead costs gradually return.

The results for the half year ending 30 September 2021 would be released on Thursday 18 November 2021.

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