17 July 2013
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.
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 Group supports NASA’s Europa Clipper mission to explore Jupiter’s moon, Europa
Find out more
Smiths Detection awarded service subcontract
Providing preventative and corrective maintenance for 486 hold baggage scanning systems across 41 airports in the United States
Find out more
Smiths Group publishes 2024 ‘Sustainability at Smiths’ report
Smiths Group publishes its latest ‘Sustainability at Smiths’ report for the fiscal year 2024. The report outlines the progress that Smiths Group has made during the year on its ESG agenda.
Find out more
