27 January 2009
IN JUNE 2008, Smiths Group announced a reorganisation of its corporate centre and divisional headquarters to improve customer focus and reduce cost. The Specialty Engineering division was disbanded on 31 July 2008 and its three constituent businesses - John Crane, Smiths Interconnect and Flex-Tek - will be reported as separate divisions from the start of the current financial year. In addition, we announced that we will report the corporate centre costs separately in order to provide greater clarity to the underlying margins of the divisions and provide a clear incentive to minimise corporate costs.
The financial results for the six months to 31 January 2009 will be reported on this basis. The pro-forma results for the comparative period are set out below and are subject to review as part of the process for reporting the half year results.
| Sales £m |
Headline operating profit £m |
|
|---|---|---|
| Smiths Detection | 222.0 | 35.0 |
| John Crane | 282.8 | 40.7 |
| Smiths Medical | 346.3 | 66.8 |
| Smiths Interconnect | 121.1 | 23.3 |
| Flex-Tek | 99.6 | 10.5 |
| Marine Systems* | 16.0 | 0.8 |
| Corporate | - | (19.0) |
| 1087.8 | 158.1 |
*Marine Systems was sold in November 2007.
The results for the six months to 31 January 2009 will be announced on 25 March 2009.
Related articles
John Crane signs five-year contract to support major oil company’s Canada complex
Read our latest company news as John Crane signs a 5-year contract with a major hydrocarbon processing complex
Find out more
John Crane awarded major 5-year Dry Gas Seal repair contract from KPO
John Crane, a global leader in rotating equipment solutions and energy transition technologies and services, and a business of Smiths Group plc, has been awarded a significant contract from Karachaganak Petroleum Operating B.V. (KPO) one of the major oil and gas operators based in Kazakhstan.
Find out more
Smiths Interconnect launches new technology to reduce power loss in industrial batteries
Innovative, environmentally friendly product provides up to 90% more energy transfer than existing offering
Find out more
