2 September 2010

Halma

NO RECOMMENDATION

07/09/2001

In a bullish AGM statement back in August, chairman David Barber said that sales were 5% ahead of last year at the safety and environmental technology group, which posted 'another' set of record figures for the year to 31 March back in June. Every division increased profits as group pre-tax profits before tax, exceptionals and goodwill rose 14% to £49.7m, on sales boosted by 15% to £268m. At the time, chief executive Stephen O'Shea explained demand for its products, 'which save lives and protect health', was growing. Halma is fortunate because it operates in areas where there is a legislative drive for personal safety and systems protection, such as the petrochemical and power generation markets. Analysts expect the group to post pre-tax profits of £53.2m for the current year, giving 10.1p earnings per share, with £57.3m and 10.7p to follow the year after. The shares currently trade at 153p, compared to a 52-week high and low of 175.5p and 107.5p.

Sector: General Industrials

Companies: Halma

Market cap: £552m

PE Forecast: 15.1

Share price: 153p

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