Business
New Reporting Sectors
New Reporting Sectors.
About this update from Halma Plc
[{"type":"text","content":"\n Halma PLC\n28 November 2005\n\n\n\n HALMA p.l.c. ('Halma')\n\n\n\n NEW REPORTING SECTORS\n\n\n\n 28 November 2005\n\n\n\n\n\nHalma, the leading safety, health and sensor technology group, today issues a reconciliation of the\nGroup's historic results under the three new reporting sectors for its business. This announcement is\nbeing made in advance of the Group's interim results for the six months to 1 October 2005 which will be\nannounced on 6 December 2005.\n\n\n\nNew sectors defined by markets will support our growth strategy\n\n\n\nAs announced in our Trading Update of 27 October 2005, we will now be reporting our financial performance\nunder three new sectors. These new groupings, defined by markets rather than product type, will make the\nGroup simpler to understand by all stakeholders.\n\n\n\nEach new sector includes businesses with similar operating and market characteristics. This will help us\nfurther develop our market-driven strategies and enable more proactive collaboration across the Group.\n\n\n\nThe fundamental Group philosophy of giving subsidiaries autonomy and freedom to operate independently\nremains firmly in place. However, we can do more to leverage the broader product and selling strengths\nthat exist across those businesses operating in the same, or adjacent, markets.\n\n\n\nFinancial analysis shows full year and interim results for each sector\n\n\n\nAppendix A gives a financial analysis restating Halma's last 3 years' full year and interim revenue and\nprofit before taxation under the new sector headings, on a UK GAAP basis. It also includes a bridge\nbetween the UK GAAP and IFRS revenue and profit before taxation numbers for 2004/05. All of these\nschedules are unaudited but are based on the audited UK GAAP accounts for the relevant year.\n\n\n\nFor the first time, this analysis discloses individual sector profits at the interim stage. In addition,\nGroup Central Company costs/income are disclosed separately, rather than incorporated into one of the\nsectors.\n\n\n\nCentral Companies provide services to the Group's operating businesses. Costs include those of centrally\nbased executives and limited central resources. Income is generated via a 'cost of capital' charge based\non the capital used in each business, reflecting their scale and complexity. In recent years central\nincome has decreased mai...