Halma eyes buyouts after earnings jump

BRITISH sensor maker Halma yesterday posted a higher first-half pre-tax profit on growth at its health and diagnosis business and said it continued to look at acquisitions.

Halma, which completed two acquisitions in the first half, said it found more opportunities in the developed world, but was also looking at acquisitions in Asia and South America.

The company, which makes smoke detectors, automatic door sensors and eye examination devices, ended the first half with £56m in net debt and said it entered a new £260m credit facility running through October 2016.

For the six months to 1 October, Halma’s pre-tax profit rose to £57.5m from £49.3m a year ago. Total revenue rose 12 per cent to £280m.