Halma shares hit three-year high as FTSE 100 firm breaches record £1bn revenue

Shares in safety products conglomerate Halma soared to a three-year high on Thursday after the FTSE 100 group’s first-half revenue surpassed £1bn for the first time.

The 130-year-old safety and equipment maker reported a record revenue of £1.1bn for the six months to 30 September, up 13 per cent from the same period a year earlier.

That helped Halma’s pretax profit grow 16 per cent to £174m. The firm hiked its interim dividend by seven per cent to 9p per share.

Its share price jumped as much as 10.4 per cent in early trading, reaching its highest level since January 2022.

Halma’s revenue was boosted by its environmental and safety businesses, which enjoyed 27 per cent and 11 per cent growth respectively. These performances offset more muted earnings from its healthcare unit.

Marc Ronchetti, Halma’s chief executive, commented: “These results further extend our track record of delivering strong and compounding revenue and profit growth, substantial cash generation enabling continued investment, and returns well above our cost of capital, while growing a safer, cleaner, healthier future for everyone, every day.”

Halma completed four acquisitions over the six months and a further three afterwards, totalling a maximum value of £158m.

The Amersham-based group’s growth strategy involves providing capital, IT and other investment for the small and medium-sized companies it acquires – managing them through a decentralised model.

“The company’s focus on sustainability and long-term trends like stricter safety rules and climate change solutions keeps it ahead of the curve,” said Matt Britzman, an analyst at Hargreaves Lansdown.

“With a series of smart acquisitions boosting its portfolio, Halma’s steady strategy and innovative approach show it’s not just growing – it’s thriving.”

Halma reiterated its guidance for the full year, expecting a roughly 21 per cent pretax earnings margin. The metric came in at 20.7 per cent for the first half.

The group’s last annual results, for the year to March, showed the 21st consecutive year of growing revenue and profit.