Building on our strong operational and financial performance, we have recently announced a number of strategic actions to unlock significant value and enhance returns to shareholders:
- Smiths to focus on high performance industrial technologies for efficient flow and heat management
- Focus on world-class John Crane and Flex-Tek businesses
- Leading positions in attractive markets with structural growth mega-trends
- Track record of organic growth, strong operational and financial performance, and attractive financial returns
- Smiths Interconnect to be divested, and Smiths Detection to be separated either by UK demerger or sale following the sale of Smiths Interconnect
- Acceleration Plan continues and will deliver a streamlined Group cost base
- Share buyback programme increased to £500m
- A large portion of all disposal proceeds to be returned to shareholders
We commit to keeping our stakeholders updated throughout this process and will share more information on this page on an ongoing basis.
We are pleased with the financial and operating performance of the Group over recent years, including the recent upgrade to earnings. Against this strong backdrop and since my appointment, the Board has spent considerable time evaluating the options to maximise shareholder value and address the persistent discount to the significant value embedded within the Group.
Roland Carter
Smiths Group CEO
