Halma PLC announce a total dividend per share for the year up 7%

DividendMax Ltd.

Halma PLC announce a total dividend per share for the year up 7%

The Halma Board is recommending an 8% increase in the final dividend to 10.78p per share. Together with the 6.87p per share interim dividend, this would result in a total dividend for the year of 17.65p, up 7%, making this the 42nd consecutive year of dividend per share growth of 5% or more.

Other financial highlights include:

Record profit: Adjusted profit before tax up 4%; organic constant currency profit up 1%; statutory profit before tax up 13%, including a £21.6m gain on disposal of Fiberguide Industries. 

Three out of four sectors grew profit on a reported basis; two on an organic constant currency basis.

Revenue down 2%, with a 5% decline in the first half improving to 2% growth in the second half. 

Organic constant currency revenue down 6%, with an 11% decline in the first half improving to a flat performance in the second half.

Robust revenue performance in all major regions: Asia Pacific slightly up including double digit growth in China; the USA and Mainland Europe stable; a small decline in the UK.

Strong returns: Return on Sales of 21.1% and ROTIC of 14.4%. 

Continued investment in future growth: R&D expenditure at 5.3% of revenue.

Impressive cash generation: cash conversion of 104%, driven primarily by good working capital control.

Rebound in M&A activity since the start of the second half, with a healthy pipeline and momentum continuing into the new financial year. 

Strong balance sheet and significant liquidity supporting value-enhancing acquisitions and an increased dividend. 

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