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Annual Results

Smiths Group underlying revenue broadly in line

22 September 2017 07:44

Smiths Group said group underlying revenue was broadly in line with the prior year, up 11% on a reported basis in the year to 31 July 2017.

HIGHLIGHTS:

- Underlying headline operating profit up 3%, and up 16% on a reported basis

- Margin expansion in all divisions combined with increased investment

- Operational excellence supporting strong cash conversion of 118%

- Significant portfolio upgrading

- c.75% of the group now well-positioned in growth markets

- Increased investment in all divisions to drive future growth, up 60bps to 4.6% of sales

- Four non-core businesses sold

- Morpho Detection acquisition integration on track

- Balance sheet remains strong with further investment capacity for sustainable growth

- ROCE up 90bps with increases in all divisions

- Headline basic EPS up 15% at 97.6p per share

- Proposed final dividend of 29.7p per share. Full year dividend growth of 3%

Story provided by StockMarketWire.com

Related Company: SMIN

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