Full Year Results 

Smiths demerger on track as profits rise

Smiths demerger on track as profits rise

Full-year returns for Smiths Group (SMIN) benefited from the positive effects of operational gearing at its John Crane business, together with £57m in favourable currency translations. This fed through to a 13 per cent rise in adjusted pre-tax profit for the diversified engineering group, but perhaps the most noteworthy achievement was a 40 basis point improvement in the adjusted operating margin, attained despite a commensurate rise in research and development (R&D) costs, which now equate to 4.5 per cent of sales.

To continue reading, subscribe today

and enjoy unlimited access to the following:

  • Tips of the Week
  • Funds coverage
  • Weekly features on big investment themes
  • Trading ideas
  • Comprehensive companies coverage
  • Economic analysis
Subscribe
Subscribe to Investors Chronicle

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now