Halma adjusts guidance after profit fall

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Halma PLC on Thursday reported a 12% fall in pretax profit for the first half of fiscal 2021 as revenue fell, and adjusted its full-year guidance. The London-listed safety, health and environmental-technology company said pretax profit for the six months ended Sept. 30 was 93.6 million pounds ($124.2 million) compared with GBP105.8 million for the first half of fiscal 2020.

Adjusted pretax profit, a key metric which strips out exceptional and other one-off items, was GBP122.0 million compared with GBP128.8 million in the same period the year before. Halma said it now expects full-year adjusted pretax profit to be around 5% below that posted for fiscal 2020. In July, the company guided for a fall in adjusted pretax profit of 5% to 10% for fiscal 2021. Revenue for the period fell to GBP618.4 million from GBP653.7 million in the year-prior period, compared with a forecast of GBP630.1 million taken from FactSet and based on two analysts’ estimates. The board declared an interim dividend of 6.87 pence a share, compared with last year’s 6.54 pence.

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