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28 Sep, 2021 07:40

Smiths returns to revenue growth, ups dividend

smiths group john crane industrial
Smiths Group

Smiths Group reported a return to revenue revenue growth and an increased final dividend as markets recovered from the Covid-19 crisis.

The FTSE 100 engineering group's headline operating profit from continuing operations rose 14% to £372m in the year to the end of July as revenue fell 6% to £2.41bn from a year earlier. On an underlying basis profit rose 7% and revenue fell 2% with revenue growing in the final quarter.

The results excluded the company's former medical business, which it agreed to sell in September 2021 for $2.7bn. Smiths reported good order book momentum and improving margins and said it was increasingly confident about its prospects.

Smiths proposed a final dividend of 26p a share, taking the annual payout to 37.7p - up 8% from a year earlier.

Paul Keel, who joined as chief executive in May, said: An important milestone for the group was announcing the sale of Smiths Medical. In doing so, we fulfilled a commitment to simplify our business and focus on our higher-performing industrial technology core, whilst delivering significant returns to our shareholders."


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Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author or publisher.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.