LONDON (dpa-AFX) - Smiths Group plc (SMIN.L) reported pretax profit from continuing operations of 601 million pounds for the year ended 31 July 2017 compared to 346 million pounds, previous year. Profit to shareholders from continuing operations increased to 570 million pounds or 142.3 pence per share from 259 million pounds or 64.9 pence per share. Headline pre-tax profit was up 17% to 528 million pounds. Headline earnings per share was 96.3 pence compared to 84.3 pence.
Fiscal year reported revenue from continuing operations increased by 11% to 3.28 billion pounds, including the positive effects of foreign currency translation and the net impact of acquisitions and disposals. On an underlying basis, revenue declined 1% as growth in Smiths Detection, Smiths Interconnect and Flex-Tek was offset by declines in John Crane and Smiths Medical.
Andy Reynolds Smith, Group Chief Executive, said: 'We are well underway in repositioning the business through organic and inorganic investment with approximately 75% of the Group now well positioned in attractive markets. The disposal of four non-core businesses and the acquisition of Morpho Detection has supported the significant upgrading of the portfolio as we increasingly focus on scalable, technology-differentiated leadership positions in our chosen markets.'
The Board recommended a final dividend per share of 29.70 pence, giving a total dividend for the year of 43.25 pence, an increase of 3% year-on-year.
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