Halma FY22 Profit Climbs, Lifts Dividend; Sees Growth Ahead; Names Marc Ronchetti CEO Designate

Halma Plc (HLMA.L), a British safety equipment maker, reported Thursday that its fiscal 2022 profit before taxation grew 20 percent to 304.4 million pounds from last year’s 252.9 million pounds.

Earnings per share were 64.54 pence, up from 53.61 pence last year.

Adjusted profit before tax was 316.2 million pounds, compared to 278.3 million pounds a year ago. Adjusted earnings per share were 65.48 pence, compared to 58.67 pence last year.

Revenue grew 16 percent to 1.53 billion pounds from last year’s 1.32 billion pounds.

Further, the company announced that its Board is recommending a 7 percent increase in the final dividend to 11.53p per share. This gives a total dividend per share of 18.88p, up 7.0 percent in total.

Looking ahead, Andrew Williams, Group Chief Executive of Halma, said, “We have made a positive start to the new financial year. We have a strong order book, and order intake in the year to date is ahead of revenue and in line with the very strong intake in the same period of the prior year…. We are well positioned to make further progress in the full year and in the longer-term.”

The company further said it expects to deliver continued growth and maintain high returns in the 2022/23 financial year, with good single digit percentage organic constant currency revenue growth and a Return on Sales similar to the second half of the 2021/22 financial year.

Separately, Halma announced that Williams has decided to retire as Group Chief Executive next year, after 18 years in the role. The company appointed Chief Financial Officer Marc Ronchetti as Chief Executive Designate to succeed Williams.

Williams will continue as Halma’s Group Chief Executive and support Ronchetti through the transition process until he takes over as Group Chief Executive on April 1, 2023.

Ronchetti will continue as Chief Financial Officer, in addition to becoming Chief Executive Designate, until his successor is appointed.

A search is underway to identify and appoint a successor to Ronchetti as Chief Financial Officer.

Williams joined Halma in 1994 and was appointed Chief Executive in 2005. Ronchetti joined Halma in 2016 as Group Financial Controller and was appointed as Chief Financial Officer in 2018.

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