Press Release Details - Smiths Group plc

Cookies

The cookie settings on this website are set to ‘allow all cookies’. Leaving your settings to ‘allow all cookies’ means you consent to a website remembering your preferences and generally enhancing the user experience. If you prefer a website to not remember your preferences, you can change your settings at any time by changing the privacy settings of your browser.

Find out more about cookies >

17 July 2013

Smiths Group plc pre-close trading update

Following a meeting of the Board yesterday, Smiths Group is providing the following pre-close trading update for the financial year ending 31 July, 2013.

Trading for all divisions except Smiths Detection has continued broadly in line with the interim management statement issued on 24 May, 2013. In this statement, we indicated that the headline operating margin at Smiths Detection had been affected by contract mix and the initial under-recovery of overheads at new manufacturing sites.

Since this statement, Smiths Detection has identified that the final outcome of three contractual commitments entered into prior to 2010 are anticipated to be materially adverse to previous expectations. Smiths Detection has also determined to make additional provisions for the costs associated with certain legal disputes. As a result, headline operating profit for the Group overall is likely to be up to £15m below current expectations.

The results for the financial year ended 31 July 2013 will be announced on 18 September 2013.







back to top
Celebrating 100 years on the London Stock Exchange

Smiths Group divisions:

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

Smiths Group plc:
Registered office 2nd Floor, Cardinal Place, 80 Victoria Street, London, SW1E 5JL
Incorporated in England No. 137013
Copyright 2013 Smiths Group plc.
All rights Reserved | Legal Notice | Privacy Policy | Cookie Policy