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.
