17 July 2013
Following a meeting of the Board yesterday, Smiths Group is providing the following pre-close trading update for the financial year ending 31 July, 2013.
Trading for all divisions except Smiths Detection has continued broadly in line with the interim management statement issued on 24 May, 2013. In this statement, we indicated that the headline operating margin at Smiths Detection had been affected by contract mix and the initial under-recovery of overheads at new manufacturing sites.
Since this statement, Smiths Detection has identified that the final outcome of three contractual commitments entered into prior to 2010 are anticipated to be materially adverse to previous expectations. Smiths Detection has also determined to make additional provisions for the costs associated with certain legal disputes. As a result, headline operating profit for the Group overall is likely to be up to £15m below current expectations.
The results for the financial year ended 31 July 2013 will be announced on 18 September 2013.
General media enquiries
Contact our global media and communications team at:
Please note – the press team can only answer enquiries from accredited members of the press.
Related articles
Smiths Group plc – Q1 Trading Update
Find out more
Smiths Detection supplies industry-leading 3D X-ray scanners to Kansai International Airport
Passengers passing through Osaka’s busiest airport will soon be able to leave liquids and electronics in bags.
Find out more
Smiths Detection receives key certification for its AI-powered threat detection technology
AI-empowered technology identifies a wide range of airport threats and meets strict EU and Dutch requirements, setting an industry benchmark
Find out more
