THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Smiths Group plc (“Smiths” or “the Group”) today announces its trading update for the year ended 31 July 2016.
Full year revenue for the Group is expected to be above both expectations and the previous year, reflecting stronger operational performance, principally in Smiths Detection, and the favourable impact of a stronger US dollar which more than offset a 10% underlying reduction in John Crane revenues.
Full year headline operating profit is also anticipated to be above expectations but below 2015 levels, with the reduction in profits in John Crane more than offsetting the favourable impact of the stronger US dollar and improved underlying profitability in Smiths Medical, Smiths Interconnect and Smiths Detection.
Expectations for performance in 2017 remain unchanged, excluding the potential foreign exchange translation benefit from the weaker British pound should current rates continue.
The Group will issue its 2016 full year results at 7am BST on Wednesday 28 September 2016.