Last checked at 12 Jan 2018 07:00
News Release
London, 12 January 2018
For immediate release
Smiths Group statement on impact of US tax legislation
Smiths Group plc ("Smiths Group" or the "Company") notes the enactment of the Tax Cuts and Jobs Act in the United States. The net impact of the new US tax legislation on the Group will be favourable over the medium term. For the current financial year, Smiths Group anticipates a headline effective tax rate of 27.5-28.5%, which includes the one-off adverse revaluation of the deferred tax asset position.
Looking into the financial year to 31 July 2019 and beyond, the headline effective tax rate is estimated to be in the range of 23.0-25.0%.
END
Contact details
Investor enquiries
Jemma Spalton, Smiths Group
+44 (0)20 7004 1637
+44 (0)78 6739 0350
jemma.spalton@smiths.com
Marion Le Bot, Smiths Group+44 (0)20 7004 1672+44 (0)75 8315 4386marion.lebot@smiths.com
Media enquiries
Andrew Lorenz, FTI Consulting+44 (0)20 3727 1323
+44 (0)77 7564 1807
smiths@fticonsulting.com
Deborah Scott, FTI Consulting+44 (0)203 727 1459+44 (0)797 953 7449smiths@fticonsulting.com
About 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 medical technology, security & defence, energy, space & commercial aerospace, construction, transportation and general industrial markets worldwide. Smiths Group employs c.22,000 colleagues in over 50 countries. For more information visit www.smiths.com.