Halma plc (HLMA) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to our half-year results presentation. I'm pleased to report good progress in the first half. We've delivered record results in continued strategic investment. The group performance once again demonstrating the strength and success of our sustainable growth model and the long-term growth drivers that underpin our diverse portfolio. It's been a period with multiple economic and geopolitical challenges, and our companies have responded with great skill and agility to overcome these whilst also addressing new growth opportunities. And for this and their continued dedication and commitment, I wanted to start today by saying thank you to everyone at Halma that has contributed to these results. we can all be proud of what we've achieved. Steve will provide more details with regard our financial performance shortly. However, in summary, great to report that we delivered record revenue at £951 million, record profits at £178 million, and an interim dividend increase of 7%, reflecting our confidence in the future. Also positive to see our recent M&A momentum reflected in these results, with both revenue and profit benefiting by over 5%. And this growth delivered with a resilient operating margin at 20%, while further enhancing our growth opportunities through increased strategic investment, with over £150 million invested in R&D, CapEx and M&A during the six-month period. We invested over £50 million in R&D. This reflects our individual company's confidence in developing new products and services for their customers, supporting their long-term growth prospects. And excellent to see that momentum in M&A continue, with three acquisitions in the first half and a further two announced since the half year end, which brings our maximum total consideration i...