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Profits up for Halma

Gas detection specialist Halma saw an 11 per cent rise in pre tax profits to £72.8 million this year according to its preliminary results.

The global firm’s services include providing 5,000 British Gas engineers with flue gas analysers to measure temperature, pressure, gas leaks, carbon monoxide and combustion efficiency of boilers.

The company’s report on its preliminary results indicated there remained strong demand for gas detection on a domestic and industrial scale.

An excerpt from the report said: “Research published in 2007 suggests that the global market for Gas Detection products was £350mill in 2005, estimated to reach £486mill in 2012.

'Demand for gas detection products in the developed world remains robust, supported by a relatively high proportion of aftermarket sales. The adoption of enhanced safety standards in the developing economies will drive additional demand.”

Revenue from continuing operations is up 13 per cent to £395.1mill from £351.1mill in 2007. Pre-tax profit from continuing operations is up 11 per cent to £72.8 mill from £65.6 mill last year.

Companies within the Halma portfolio include Crowcon Detection Instruments.

Andrew Williams, chief executive of Halma (pictured), said: “Halma continues to deliver strong growth across our businesses and territories. This reflects our well-balanced portfolio and our focus on unique and high performance products that promote health and safety where customer investment is often non-discretionary.

“Our end markets remain robust and our financial position is strong. This gives us significant headroom to continue investing in innovation and organic growth and making acquisitions as the right opportunities present themselves. Therefore I am confident that we are well-positioned to make further progress in the current year and beyond.”