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Smiths FY Underlying Headline Operating Profit Rises; Underlying Revenue Up 3%

Smiths Group plc (SMIN.L) reported an underlying headline operating profit growth of 4 percent for the year ended 31 July 2019. Underlying revenue growth of 3% was in line with the Group's expectations. The Group said all divisions delivered growth, except for Smiths Detection where some large orders were deferred by customers into the first half of fiscal 2020.

For the fiscal year period, pretax profit improved to 304 million pounds from 287 million pounds, previous year. Statutory earnings per share from continuing operations was 35.1 pence compared to 29.2 pence. Headline pretax profit increased to 376 million pounds from 333 million pounds. Headline earnings per share increased to 68.0 pence from 60.8 pence.

Fiscal year reported revenue were 2.50 billion pounds compared to 2.33 billion pounds, an increase of 7 percent from previous year.

The Board recommended a final dividend of 31.80 pence per share, bringing the total dividend for the year to 45.90 pence, a year-on-year increase of 3.0 percent. The final dividend will be paid on 15 November 2019 to shareholders on the register at close of business on 18 October 2019.

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