28th Jan 2005 07:00
Smiths Group PLC28 January 2005 Smiths Group: current trading Smiths Group will announce its interim results on Wednesday 16 March for the sixmonths ended 31 January 2005. Ahead of its close period, the company confirmsthat its current trading is in line with market expectations. Smiths is benefiting from strong underlying growth and a good contribution fromrecent acquisitions. Sales and operating profit in the first half of 2005 areexpected to be ahead of the same period in 2004, despite the effect of theweaker dollar on translation of US earnings. This performance, combined withlower interest, improved pensions financing and a lower tax rate is expected tocontribute to an increase in EPS (before exceptionals and goodwill amortisation)for the six months. Aerospace is already benefiting from an upswing in commercial aircraft demand.Detection's growth in this period is likely to be modest, due to contractphasing. Medical, most affected by the weaker dollar, will be steady in thisperiod. Specialty Engineering is performing well, with Interconnectcontributing strongly. The acquisition of Medex, announced in December, is progressing towardscompletion. Looking ahead to the full year, Smiths confirms that it is expecting a strongperformance in the second half, again in line with market expectations. -o- Media: Investors:Caroline Harris Russell Plumley+44 (0) 20 8457 8403 +44 (0) 20 8457 [email protected] [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Smiths Group