Last checked at 9 Aug 2016 07:00
News Release
London, 9 August 2016
For immediate release
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Smiths Group trading update
Smiths Group plc ("Smiths" or "the Group") today announces its trading update for the year ended 31 July 2016.
Full year revenue for the Group is expected to be above both expectations and the previous year, reflecting stronger operational performance, principally in Smiths Detection, and the favourable impact of a stronger US dollar which more than offset a 10% underlying reduction in John Crane revenues.
Full year headline operating profit is also anticipated to be above expectations but below 2015 levels, with the reduction in profits in John Crane more than offsetting the favourable impact of the stronger US dollar and improved underlying profitability in Smiths Medical, Smiths Interconnect and Smiths Detection.
Expectations for performance in 2017 remain unchanged, excluding the potential foreign exchange translation benefit from the weaker British pound should current rates continue.
The Group will issue its 2016 full year results at 7am BST on Wednesday 28 September 2016.
ENDS
Contact details
Investor enquiries
Andrew Lappin, Group Director Corporate Affairs, Smiths Group
+44 (0)20 7004 1612
andrew.lappin@smiths.com
Media enquiries
Anthony Cardew, Cardew Group
+44 (0)20 7930 0777
anthony.cardew@cardewgroup.com
Smiths Group
Smiths Group is a global technology company listed on the London Stock Exchange (SMIN) and operates a sponsored level one ADR programme (SMGZY). A world leader in the practical application of advanced technologies, Smiths Group delivers products and services for the threat & contraband detection, medical devices, energy and communications markets worldwide. Our products and services make the world safer, healthier and more productive. Smiths Group employs around 23,000 people in over 50 countries. For more information visit www.smiths.com.