LONDON (dpa-AFX) - Smiths Group Plc (SMIN.L), a British engineering company, on Tuesday posted a surge in pre-tax income for the full year 2023, supported by an increase in revenue reflecting a higher demand.
For the 12-month period to July 31, the Group registered a pre-tax income of 360 million pounds, compared with 103 million pounds recorded for the previous year.
Profit for the year stood at 232 million pounds or 65.1 pence per share as against last year's 1.035 billion pounds or 266 pence per share. Last year's profit was supported by the earnings from discontinued operations of 1.022 billion pounds.
Operating income surged to 403 million pounds from 117 million pounds of previous year.
Headline EBITDA moved up to 584 million pounds from 495 million pounds of 2022.
Revenue was 3.037 billion pounds, up from last year's 2.566 billion pounds.
The company will pay a final dividend of 28.7 pence per share, bringing the total dividend for the year to 41.6 pence per share, higher than last year's total dividend of 39.6 pence per share. The final dividend will be paid on November 24 to shareholders on the register as of October 20.
Looking ahead, for full year 2024, the Group expects organic revenue growth within its medium-term target range of 4 percent to 6 percent, with continued margin expansion.
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