• Delivering operational efficiencies

    Delivering operational efficiencies

    We see big opportunities to improve margins through self-help and restructuring. Last year we launched a major restructuring programme to sharpen customer focus and cut costs. To date, it has delivered savings of £17m. Read more ›

  • Investing in the business

    Investing in the business

    Research and Development (R&D) is the lifeblood of new products. Successful product launches drive superior sales growth, command higher margins, and confer competitive advantage. Read more ›

  • Reshaping the portfolio

    Reshaping the portfolio

    A key objective for the Group is to optimise the allocation of capital between the different businesses. We are reshaping the portfolio to drive higher returns and to expand our addressable markets. In two years we have made 10 acquisitions that have added complementary technologies, leveraged our infrastructure and extended our geographic reach. Read more ›.

  • Generating cash

    Generating cash

    Improving cash generation through better working capital management is another primary focus. During the year, we successfully lowered inventories and reduced debtors to improve operating cash conversion from 72% to 104% and free cash-flow from £91m to £256m. Read more ›

  • Promoting responsibility

    Promoting responsibility

    Every one of us in Smiths has a duty to promote a culture of responsibility and accountability.

    During the year we rolled-out an enhanced Code of Business Ethics, supported by an extensive training programme across all the divisions. Read more ›

"The breadth of our portfolio and its exposure to a wide range of endmarkets and geographies has provided both resilience in these testing times and support for sales and profit growth...."

Chief Executive's statement ›

Sales +15%

£2,665m

Headline operating profit +10%

£418m

Statutory operating profit +32%

£429m

2009 Performance ›

Business Review

Read the 2009 Business Review for the 5 divisions of Smiths Group.


Downloads

Downloadable PDF's and Excel tables of the Annual Report and Notice of Meeting documents are available below.

Financial Statements

Downloadable PDF's and Excel tables of the Annual Report and Notice of Meeting documents are available below.


The purpose of this Report is to provide information to the members of the Company. The Annual Report contains certain forward-looking statements with respect to the operations, performance and financial condition of the Group. By their nature, these statements involve uncertainty since future events and circumstances can cause results and developments to differ materially from those anticipated. The forward-looking statements reflect knowledge and information available at the date of preparation of this Annual Report and the Company undertakes no obligation to update these forward-looking statements. Nothing in this Annual Report should be construed as a profit forecast.

Smiths Group divisions:
Smiths Detection, Smiths Medical, John Crane, Smiths Interconnect, Flex-Tek

 

Smiths Group plc:
Registered office 2nd Floor, Cardinal Place, 80 Victoria Street, London SW1E 5JL, UK
Incorporated in England No. 137013
Copyright 2009 Smiths Group plc.
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