Halma PLC lifts profit forecast as sales recover

() raised its profit forecasts after an uptick in trading in the second half of the year to end-March.

Adjusted profit before tax for the 2020/21 financial year is now predicted to be in line with the previous year’s £267mln compared to an earlier forecast of a 5% drop.

Halma added the new forecast is despite a small adverse impact from exchange rates.

The FTSE100 safety and electronic products group said revenue trends have steadily improved with costs kept under control.

Order intake is currently ahead of revenue and the same period last year, the statement added.

By sector, infrastructure safety is doing well, process safety is recovering though medical is still suffering from the impact on elective procedures from Coronavirus (COVID-19) disruption.

Asia Pacific is the best of the regions helped by a recovery in China while there is growth in Mainland Europe and the UK.

Halma also said that Dame Louise Makin would replace Paul Walker as chair in July 2021 when he steps down from the board after eight years.

Going forward, the group said it will report its results by three sectors – safety, environmental & analysis, and medical.