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) | 3,215 -707.3 (-0.7%) | Mkt Cap: 12,206m
- Published:
06 Oct 2015 -
Author:
Singer CM Team -
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.