Plus   Neg

Smiths Group Issues Trading Update; Withdraws Guidance - Quick Facts

Smiths Group plc (SMIN.L) reported that continuing operations delivered underlying revenue growth of 3% for the six months ended 31 January 2020. Reported revenue rose 8%, including the acquisition of United Flexible. The Group has decided to withdraw forward guidance for fiscal 2020. Also, the Board considers it prudent not to declare an interim dividend for half year 2020.

Smiths Group reported that trading to the end of March was affected to some extent by early COVID-19 disruption, which is now accelerating. For the 8 weeks ended 28 March 2020, percentage revenue growth for continuing operations and for Smiths Medical was mid-single digit.

The Group said the separation of Smiths Medical was on track to be delivered by the end of the first half of 2020. However, under current circumstances, the Board has decided to delay separation until conditions improve.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Many retailers including Target, Walmart and CVS announced temporary store closures in various regions across the United States following violence and looting amid the unrest related to the death of George Floyd. The street protests, some peaceful and some violent, erupted across the nation after Floyd was mercilessly killed by Minnesota police. Nestle USA, a division of Swiss food major Nestlé, announced the recall of certain Lean Cuisine Fettuccini Alfredo products citing misbranding and the presence of an undeclared allergen. According to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS, the recall involves approximately 29,002 pounds of chicken products. Apple chief executive officer Tim Cook condemned the killing of an unarmed black man, George Floyd, and called for the creation of a "better, more just world for everyone," according to reports citing a memo to employees.
Follow RTT