Halma plc (LSE:HLMA) said it remains on course to deliver its 23rd straight year of record adjusted profit, supported by broad-based growth across its businesses despite ongoing economic and geopolitical uncertainty. For the year ending 31 March 2026, the group expects mid-teens organic revenue growth at constant currency and an adjusted EBIT margin of around 22%, excluding a one-off gain. Cash conversion is also forecast to remain close to the company’s 90% target, although the stronger pound is expected to weigh on reported revenue and profit.
Order intake has continued to exceed both current revenue levels and the prior year’s performance, reflecting strong demand across the portfolio. Particularly robust activity in photonics within the Environmental & Analysis division has been a key contributor to this momentum.
Halma has also significantly increased its acquisition activity. The group has invested a record £451 million in five acquisitions across its three core sectors so far this year and reports a healthy pipeline of further opportunities. Management said this continued investment supports Halma’s long-term strategy of sustainable growth and strengthens its position in safety, environmental and healthcare technology markets.
The company’s outlook remains supported by strong financial performance and positive sentiment from recent earnings commentary, alongside its active acquisition strategy. However, the shares trade on a relatively high valuation multiple, and the modest dividend yield slightly moderates the overall investment case.
More about Halma
Halma plc is a global group of technology companies focused on life-saving products and services across safety, environmental and healthcare markets. Its solutions are designed to protect people, assets and critical resources. The company, a constituent of the FTSE 100 Index, employs more than 9,000 people across over 20 countries, with major operations in the UK, mainland Europe, the United States and the Asia-Pacific region.
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