This looks like a sensible complementary acquisition, adding fire suppression to existing detection capabilities. We expect to make small upgrades from FY17, but remain at Sell on valuation grounds; HLMA shares have fallen a little in recent weeks but remain expensive, in our opinion, at over 14x FY16 EBITDA.
06 Oct 2015
Complementary fire acquisition
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Complementary fire acquisition
Halma plc (HLMA:LON) | 2,241 537.8 1.1% | Mkt Cap: 8,508m
- Published:
06 Oct 2015 -
Author:
Jon Lienard -
Pages:
3
This looks like a sensible complementary acquisition, adding fire suppression to existing detection capabilities. We expect to make small upgrades from FY17, but remain at Sell on valuation grounds; HLMA shares have fallen a little in recent weeks but remain expensive, in our opinion, at over 14x FY16 EBITDA.