16 March 2005

Smiths Group: Interim Results for the six months ended 31 January 2005

Highlights:

  • Headline profit before tax up 16% at 155m*
  • Headline earnings per share up 17% at 20.4p*
  • On a statutory basis, profit before tax was 125m and EPS was 15.9p
  • At constant currency, all four divisions contributed to sales growth of 11%, headline operating profit growth of 16%
  • Medex acquisition scheduled to complete on 21 March
  • Interim dividend increased by 6%, to 9.25p
  • Momentum expected to be sustained in second half of 2005

* Before goodwill amortisation and exceptional items.

Commenting on the results, Keith Butler-Wheelhouse, Chief Executive said:

"This was a strong first half and we expect to sustain this momentum through the remainder of the year. With all four divisions performing well, Smiths is achieving real underlying growth and gaining the incremental benefit of recent acquisitions. The Medex transaction is scheduled to close early next week and this will have a beneficial impact on the Medical division. We have raised the interim dividend for the first time since 2001, reflecting our positive outlook for the full year."

To read the full release please click the following link

Preliminary results 2005 (PDF Format)

ENDS