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Highlights

  • HLMA's revenue up 11% (+9% organic), adjusted EBIT up 15% (+13% organic).

  • Growth across all sectors and regions, led by double-digit gains in the USA and Asia Pacific.

  • Halma anticipates upper single-digit organic revenue growth, backed by a robust order book and photonics demand.

Halma PLC (LSE:HLMA), a global leader in life-saving technology, has reported record full-year results for the 12 months ending 31 March 2025, outling an 11% increase in total revenue, with organic growth of 9%, supported by broad-based gains across all business sectors and regions.

Adjusted EBIT rose by 15%, or 13% organically and the group’s adjusted EBIT margin climbed 80 basis points to 21.6%, up from 20.8% in the previous year. Statutory profit before interest and taxation also advanced by 12%.

Each of Halma’s core sectors—Safety, Environmental & Analysis, and Healthcare—contributed meaningfully to growth. The Safety sector stood out with revenue growth of 9.5% (7.7% organic) and adjusted profit growth of 13.7% (11.6% organic), reflecting demand improvement across all geographies.

From a regional perspective, Halma reported revenue growth across all markets, with particularly significan momentum in the USA and Asia Pacific, both posting double-digit gains.

Continuing its long-standing dividend tradition, Halma raised its total dividend by 7%, marking the 46th consecutive year of dividend increases of 5% or more.

Looking ahead to FY26, Halma has made an encouraging start, with a signifuicant order book and intake already ahead of revenue and the prior year. Despite ongoing geopolitical and macroeconomic uncertainties, the company is forecasting upper single-digit organic revenue growth in constant currency terms. This includes expected growth in photonics within its Environmental & Analysis sector. Adjusted EBIT margin is forecasted to be modestly above the mid-point of its 19–23% target range, suggesting continued profit resilience.

Analyst Outlook and Valuation

Halma currently holds a consensus HOLD recommendation, with a target price of GBp 3,047.5, which is 3.32% below the previous valuation and slightly under its recent share price of GBp 3,152. The stock has a 9.27% long-term growth (LTG) forecast, positioning it as a stable, defensive play with dependable earnings quality.

Notable broker activity includes:

  • Panmure Liberum analyst Alex O’Hanlon maintaining a BUY recommendation with a target of GBp 3,340, implying 5.96% upside.