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Directors dealings: Halma's Tony Rice adds to holdings on the back of trading update

Thu 28 September 2017 19:24 | A A A

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(ShareCast News) - Halma's Tony Rice added to his holdings in the safety, health and environmental technology group.

On 27 September, the senior independent director bought 9,274 shares at 1,072.63p, for a total transaction amount of £99,475.71, taking his holding in the group to 16,939 shares or 0.0045% of the company's equity.

In a trading update issued that same day, the company said improved rates of organic constant currency revenue and profit growth achieved in the second half of the last financial year continued into the current year, adding that order intake was ahead of revenue and also ahead of the same period last year.

Nonetheless, analysts had yet to react, with HSBC having told clients on 14 June that its valuation seemed "fair".

"We like Halma's resilient business but valuation looks fair in near-term [...] It has delivered double digit earnings CAGR over the last 20 years with at least a 5% dividend increase every year for the last 38 years. But we believe valuation multiples are now up with events given its strong share price run (up 28% YTD)."

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