Analyst forecasts - Smiths Group plc


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Analyst forecasts

Consensus FY17 Consensus FY18
John Crane 880 903
Medical 962 973
Detection 689 871
Interconnect 434 363
Flek-Tek 331 338
Revenue (£m) 3,296 3,448
John Crane 195 205
22.1% 22.7%
Medical 204 206
21.2% 21.2%
Detection 105 140
15.3% 16.1%
Interconnect 58 53
13.5% 14.9%
Flek-Tek 61 63
18.5% 18.5%
Central -44 -46
Headline operating profit (£m)* 580 621
17.6% 18.0%
Net Financing -59 -59
Headline PBT (£m)* 522 564
Tax rate 26.5% 29.8%
Tax -138 -169
Headline PAT (£m) 385 397
Headline EPS 97.0p 100.0p

Updated 8 September 2017

* Headline profit is before exceptional items, amortisation and impairment of acquired intangible assets, pension charges and financing gains/losses from currency hedging.

Consensus estimates above includes the acquisition of Morpho Detection.

Consensus estimates above exclude Wallace, Artificial Lift, Power and Telecoms (SMT).

Each line is the average for the analysts’ forecasts for that item and as such the numbers do not always total correctly because of rounding differences.

The consensus is using 15 analysts’ forecasts.



The forecasts in this analysis have been gathered from a number of registered investment analysts and are, as such, publicly available information. These estimates are forward looking and are therefore subject to risks and uncertainties that may materially affect eventual results. In distributing this analysis, Smiths Group does not imply its endorsement of, or concurrence with, such information, conclusions or recommendations. Nothing in this analysis should be taken as a recommendation to buy or sell shares in Smiths Group or to take any other action or place any reliance on the analysis. Smiths Group is not regulated by the Financial Conduct Authority and cannot offer investment advice.

Although Smiths Group will endeavour to procure that the information is kept updated, Smiths Group assumes no obligation to update or revise such information to reflect circumstances existing after the date hereof. Neither Smiths Group nor any subsidiary undertaking or any director, officer or employee of Smiths Group accepts any responsibility for the accuracy of the forecasts used in this analysis and therefore shall have no liability whatsoever for the consequences of any reliance or actions taken or not taken based on any of the information in this analysis.


Analyst coverage of Smiths Group

House Analyst
Bank of America Merrill Lynch Alex Virgo
Credit Suisse Andre Kukhnin
Deutsche Bank Jonathan Hurn
Exane BNP Paribas Jonathan Mounsey
Goldman Sachs Jack O’Brien
HSBC Scott Cagehin
Investec Michael Blogg
Jefferies Sandy Morris
JP Morgan Cazenove Glen Liddy
Morgan Stanley Robert Davies
Numis David Larkam
RBC Matthew Spurr
Societe Generale Alasdair Leslie
Stifel Mark Davies-Jones
UBS Mark Fielding

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Smiths Group divisions:

John Crane, Smiths Medical, Smiths Detection, Smiths Interconnect, Flex-Tek

Smiths Group plc:
Registered office 4th Floor, 11-12 St James’s Square, London, SW1Y 4LB
Incorporated in England No. 137013
Copyright 2017 Smiths Group plc.
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