Sell-Side Consensus

FY 2021 consensus figures are as at 09/11/2020

FY 2021
CONTINUING OPERATIONS
Underlying revenue growth (%)
John Crane (6)
Smiths Detection (6)
Flex-Tek (5)
Smiths Interconnect 2
Continuing Operations (5)
Revenue (£m)
John Crane 897
Smiths Detection 754
Flex-Tek 459
Smiths Interconnect 316
Continuing Operations 2,425
Operating profit (£m)
Continuing Operations 348
DISCONTINUED OPERATIONS (Smiths Medical)
Underlying revenue growth (%) 2
Revenue (£m) 939
Operating profit (£m) 197

Continuing Operations excludes Smiths Medical which is accounted for as 'discontinued operations - businesses held for distribution to owners'.

For analyst forecasts that record restructuring costs as non-headline, their forecasts have been manually adjusted by £(30)m for the FY to reflect the Group's presentation of results.

Accounting standards require the Group to stop charging depreciation and amortisation within Smiths Medical, since it has been reclassified as discontinued operations. Therefore, Smiths Medical's FY operating profit includes an estimated £45m credit for depreciation and amortisation and analysts' forecasts have been manually adjusted to reflect this if required. 

FY consensus is comprised of 10 analyst forecasts: JP Morgan, Goldman Sachs, BofA, Barclays, Exane BNPP, Morgan Stanley, Liberum, RBC, Societe Generale, Stifel