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Highlights

  • HLMA’s full-year organic constant currency revenue growth guidance raised to low double-digit percentages.
  • The company completed two acquisitions and one disposal in the first half of FY26.
  • Order intake ahead of both year-to-date revenue and the comparable period last year.

Halma plc (LSE:HLMA), a global group of life-saving technology companies, issued a trading update ahead of its half-year end on 30 September 2025, reporting progress in the first half of FY26 and raising full-year revenue growth guidance.

First Half FY26 Developments

The group now expects low double-digit organic constant currency revenue growth for FY26, up from previous guidance of upper single-digit growth. The increase is primarily driven by stronger-than-expected growth in photonics within the Environmental & Analysis Sector. Order intake for the period remains ahead of both revenue and the comparable period in FY25. Adjusted EBIT margin guidance remains modestly above the middle of the target range of 19–23%. Cash conversion for the full year is expected to align with the KPI of 90%, following first-half growth investments in working capital and capital expenditure. The appreciation of Sterling has created a negative currency translation impact, with an estimated negative revenue effect of £74m and negative profit effect of £17m for FY26.

Mergers, Acquisitions, and Disposals
Halma completed two acquisitions in the first half. On 25 August, it acquired Brownline, a provider of advanced gyroscopic locating systems for Horizontal Directional Drilling contractors, for €150m (approx. £129m) as a standalone company for the Environmental & Analysis Sector. On 3 April, Nu Perspectives, a cryogenic therapy device engineering company, was acquired as a bolt-on for Healthcare Sector company Keeler for £1.5m. The Group also completed a disposal of AAI for approximately £10m, net of disposal costs.

Additionally, Environmental & Analysis Sector company Nuvonic entered a licence, manufacturing, and distribution agreement with long-standing partner Fluidsmile in selected Asian markets. The transaction included a 35% associate investment by Nuvonic in Fluidsmile for approximately £10m, generating a one-off gain of £8m recognised in Adjusted EBIT.

The Group’s half-year results for the period ending 30 September 2025 are scheduled for release on 20 November 2025.