Acquisitions boost Smiths Group FY profits
Smiths Group on Friday reported a 13% rise in full year profits, driven by acquisitions and favourable currency conditions.
FTSE 100
8,173.02
13:09 31/12/24
FTSE 350
4,510.61
12:59 31/12/24
FTSE All-Share
4,467.80
13:14 31/12/24
General Industrials
7,485.48
12:59 31/12/24
Smiths Group
1,719.00p
12:44 31/12/24
The engineering business reported revenue of £2.5bn for the year ended 31 July, up 7%, as all divisions delivered growth, except for Smiths Detection where some large orders were deferred to 2020.
Revenue from higher margin regions climbed 9%, driving profit before tax to £376m. New purchases United Flexible and Advanced Diamond Technologies contributed £12m to pre-tax profits.
The separation of Smiths Medical was progressing well, the company said, with the division's revenue rising by 2% in the second half as its demerger remained on course to be completed by the end of the first half of the new financial year.
The company proposed a final dividend of 31.80 pence per share for a total of 45.90p, up 3%.
Smiths Group shares were up 0.18% at 1,643.00p at 0804 BST.
(Writing by Frank Prenesti; Editing by Michele Maatouk and Josh White)