Halma makes 'good progress' in H1

Safety equipment company Halma said on Thursday that it has made "good progress" in the first half of its trading year despite the ongoing "challenging" operational environment.

Halma stated that it had continued to see "strong demand" for its products and services in the six months ending 30 September, with order intake "strongly ahead" go the prior year.

The FTSE 100-listed group expects to post "good" organic constant currency revenue growth in the first half of the year, against a "very strong comparative" period last year, and a return on sales performance in line with levels typically seen before the onset of the Covid-19 pandemic.

Halma also note that its full-year revenue guidance and return on sales expectations were unchanged.

"Our strong underlying cash generation and robust financial position is supporting increased strategic investment in future organic growth, as well as providing capacity to fund acquisitions and our progressive dividend policy. In the first half of the year, we expect our cash conversion to reflect further targeted investment in working capital to maintain supply chain resilience and support growth," added Halma.

Reporting by Iain Gilbert at Sharecast.com