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
Global PC shipments returned to growth in the second quarter of 2020 after seeing a significant decline in the preceding first quarter due to COVID-19 related supply-chain disruptions, according to reports by two research firms. The PC market returned to growth in the quarter as production ramped up and vendors restocked their supplies to near-normal levels. The bankruptcy filing of America's oldest apparel retailer Brooks Brothers has ignited significant interest from potential buyers for the brand. WHP Global and a venture backed by Authentic Brands Group LLC and Simon Property Group, Inc., are reportedly considering bids for the retailer. WHP Global owns the ANNE KLEIN and JOSEPH ABBOUD brands. Sundial Herbal Products has recalled around 65 products, which were misbranded and currently unapproved drugs, the U.S. Food and Drug Administration said in a statement. The recall follows an order by a federal judge in June to stop distributing the company's unapproved new drugs. The affected items include herbal products and dietary supplements.
Follow RTT