Business
Interim Management Statement
Interim Management Statement.
About this update from Halma Plc
[{"type":"text","content":"\n \nRNS Number : 1641N Halma PLC 24 July 2014 \n \n\nHalma plc\n \nAGM/Interim Management Statement\n \n24 July 2014\n \n \nHalma, the leading safety, health and environmental technology group is holding its 120th AGM later today and makes the following Interim Management Statement relating to the period 30 March 2014 to date, with comments on trading relating to the first quarter ended 28 June 2014. \n \nMarket conditions have remained varied within our four sectors and the major geographic regions, while the increasing strength of sterling continues to provide a translation headwind. However, Halma has continued to achieve organic revenue growth at constant currency with order intake at 103% of revenue. This, together with the acquisitions completed in the first quarter, has positioned Halma to make further progress in the year ahead in line with the Board's expectations.\n \nProcess Safety performed well with growth from the USA, Mainland Europe, Middle East and South America offsetting lower revenue from Asia Pacific. The integration of RCS, the pipeline corrosion monitoring business acquired in May 2014, has started well and collaboration with Halma's other Process Safety companies is already underway. \n \nThe Infrastructure Safety sector made solid progress with encouraging growth in the UK and Mainland Europe. The integration into Halma of Advanced Electronics, the fire safety company acquired in May 2014, is also proceeding well. \n \nOur Medical sector had a slow start to the year but is gaining momentum with good underlying growth in the USA and South America. Plasticspritzerei, acquired in May 2014, has been fully integrated into Medicel, the Halma company which manufactures devices for cataract surgery procedures. \n \nThe Environmental & Analysis sector delivered a mixed performance. Revenue growth in Mainland Europe and Asia Pacific has been encouraging although trading in the USA and UK has been more challenging. UK revenue has been affected by lower spending by water utilities which are now in the final year of their 5-year investment cycle. \n \nAs reported previously, since the start of the period we have completed three acquisitions and one disposal with a net cash cost of £78m. There have been no other material events or tra...