10 March 2004
Key messages Aerospace, Medical and Specialty Engineering all performing strongly Underlying growth impacted by contract timing in Detection Earnings per share of 17.5p, compared with 18.9p a year ago
- Aerospace, Medical and Specialty Engineering all performing strongly
- Underlying growth impacted by contract timing in Detection
- Earnings per share of 17.5p, compared with 18.9p a year ago*
- Consistently good profit-to-cash conversion
- Net debt down to 206m from 715m from disposals and cash generation
- Dividend unchanged at 8.75p
- Full Year delivery remains on track
*continuing activities, before goodwill amortisation and exceptionals. On a statutory basis, earnings per share were 12.5p (2003: 20.4p).
Commenting on the results, Keith Butler-Wheelhouse, Chief Executive said:
Aerospace, Medical and Specialty Engineering all achieved good growth in this period. As expected, Detection was down compared with a very strong first half a year ago. The recovery in Detection in the second half and continued progress in the rest of Smiths underline our confidence in the outlook for the full year.
ENDS
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