Smiths Group plc today releases this trading update as it enters its close period ahead of its year end results announcement.
Headline operating profit and profit before tax for the Group is anticipated to be in line with management expectations, reflecting strong growth in Smiths Detection and Specialty Engineering. Smiths Medical is expected to deliver results at a similar level to last year.
In recent trading, John Crane has experienced particularly strong growth reflecting demand from the petrochemical sector, while Detection’s rate of growth has eased slightly against our earlier expectations as a result of certain contract tenders having been delayed into the next financial year.
Smiths will report its preliminary results for the year ended 31 July 2008 on Wednesday 24 September.
This press release contains certain forward-looking statements with respect to the operations, performance and financial condition of the Group. By their nature, these statements involve uncertainty since future events and circumstances can cause results and developments to differ materially from those anticipated. The forward-looking statements reflect knowledge and information available at the date of preparation of the press release and the Company undertakes no obligation to update these forward-looking statements. Nothing in this press release should be construed as a profit forecast.