24 September 2003
Highlights:
- Pre-tax profit of 384m* (-3%) and EPS of 50.1p* (-2%) incl. discont. activities
- Operating profit* up 2% to 372m on continuing activities
- Operating cash-flow (after capital expenditure) at 90% of profit*
- Annual dividend increased by 2% to 26p
- New divisional structure focuses on growth opportunities
- Good progress on disposals of non-core activities
- R&D increased by 18% to 251m
- Statutory EPS of 20.0p (33.3p) after goodwill write-down on Polymer disposal
*(before goodwill amortisation and exceptionals)
Commenting on the results, Keith Butler-Wheelhouse, Chief Executive said:
We achieved an increase in operating profit and held earnings close to last years on a continuing basis, while absorbing the commercial aerospace downturn, the impact of a weaker dollar and higher pension costs. Meanwhile, we have been successfully re-shaping the company to focus on strong, long-term growth opportunities, including establishing Smiths Detection as a separate entity and making sizeable disposals. This marks the 33rd year of consecutive dividend increases by Smiths Group.
ENDS
General media enquiries
Contact our global media and communications team at:
Please note – the press team can only answer enquiries from accredited members of the press.
Related articles
Smiths Detection supplies industry-leading 3D X-ray scanners to Kansai International Airport
Passengers passing through Osaka’s busiest airport will soon be able to leave liquids and electronics in bags.
Find out moreSmiths Detection receives key certification for its AI-powered threat detection technology
AI-empowered technology identifies a wide range of airport threats and meets strict EU and Dutch requirements, setting an industry benchmark
Find out more