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Halma lifts profit outlook as further China recovery boosts performance
StockMarketWire.com
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Safety equipment products maker Halma lifted its outlook on annual adjusted profit following 'good progress' in the second half of the year thanks to a further recovery in China.
Adjusted pre-tax profit for the 2020-to-2021 financial year is expected to be similar to that of last year, compared to prior guidance of around 5% below FY 2019/20, the company said.
'Revenue trends have seen continued sequential improvement, and we have maintained good ongoing overhead control while accelerating our strategic investments to support future growth,' the company said.
'Revenue grew in all four major regions, with the strongest growth being in Asia Pacific, which benefited from further recovery in China for the period from 1 October 2020 to date,' it added.
Dame Louise Makin is set to replace Paul Walker as Chair in July 2021 when he steps down from the board after eight years in that role, the company said.
The group's results for the full year ending 31 March 2021 are expected to be released on 10 June 2021.
Story provided by StockMarketWire.com
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