British health and safety device maker Halma achieved a record profit again during its latest financial year as sales hit £2bn for the first time in its history.
The Amersham-headquartered company made a pre-tax profit of £340m in the 12 months ending March 31, 2024 – the 21st year in a row the firm has reported record results.
The results came off the back of £2bn revenue, up from £1.8bn the year before.
Halma said strong growth in the safety and the environmental and analysis sectors more than offset a decline in the healthcare sector.
Growth was led by the London-listed company’s two largest regions – the USA and mainland Europe – both of which saw strong progress.
As a result of the year-on-year growth, the company raised its dividend for the 45th consecutive year, lifted seven per cent to 21.61p.
Group CEO Marc Ronchetti said: “2024 was another successful year for Halma. We delivered record revenue and profit, with continued high returns.
“Strong cash generation enabled us to make substantial investments in opportunities for future
growth, while maintaining a strong balance sheet.
“This success in varied market conditions reflected the commitment of our people to delivering our purpose, the benefits we derive from our sustainable growth model, and the long-term drivers that underpin growth in our diverse portfolio.
“Halma has made a positive start to the new financial year. Our order intake in the year to date is ahead of both revenue and the comparable period last year.
“We expect to deliver good organic constant currency revenue growth in the year ahead, and an Adjusted EBIT margin of around 21 per cent, in the middle of our target range.
“We remain well positioned to make further progress this year and in the longer term.”
Last month Halma acquired electrical testing technology firm MK test for a cash consideration of £44m.