Smiths Group (SMIN)

Sector:

Manufacturing

Index:

FTSE 100

1,641.50p
   
  • Change Today:
    -12.00p
  • 52 Week High: 1,766.50
  • 52 Week Low: 1,526.00
  • Currency: UK Pounds
  • Shares Issued: 347.51m
  • Volume: 716,258
  • Market Cap: £5,704m
  • RiskGrade: 127

Smiths Group feels virus effect after solid first half

By Sean Farrell

Date: Monday 06 Apr 2020

LONDON (ShareCast) - (Sharecast News) - Smiths Group said trading was increasingly affected by the Covid-19 crisis as the engineering company reported a 6% increase in operating profit.
Operating profit from continuing operations in the year to the end of January rose to £186m from £175m as revenue increased 8% to £1.24bn. Pretax profit almost halved to £46m from £89m.

The FTSE 100 group's John Crane US seals and fastenings business, detection division and Flex-Tek fluid and gases unit registered good performances in the first half but its Interconnect electronic components business suffered from market weakness.

Smiths said in the first half only the Chinese operations of John Crane were disrupted by the coronavirus pandemic. Trading to the end of March was affected by early Covid-19 disruption with an increasing impact on demand and supply.

As announced in a trading update on 31 March, Smiths has scrapped its half-year dividend and delayed the demerger of its medical business in the midst of the coronavirus crisis. The company said in the eight weeks to the end of March underlying revenue from continuing operations rose by mid-single digit figures.

Excluding its medical business Smiths said demand had weakened as some customers closed facilities temporarily and energy prices reduced capital spending in response to the oil price crash. Many airports are closed or running at reduced capacity with delays affecting Smiths' revenue.

Some companies are bringing forward installation, service and software activity and Smiths' detection division has a record order book, the company said.

Andy Reynolds Smith, the group's chief executive, said: "We started the year strongly, delivering good growth and cash across the Group. This positive start has also continued during the first two months of the second half, demonstrating the quality and financial strength of our business.

"Over the coming months, Covid-19 presents significant uncertainty and our number one priority is to keep our people safe and well. We enter this period confident in our resilience and preparedness: financially, operationally and strategically."





Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Smiths Group Market Data

Currency UK Pounds
Share Price 1,641.50p
Change Today -12.00p
% Change -0.73 %
52 Week High 1,766.50
52 Week Low 1,526.00
Volume 716,258
Shares Issued 347.51m
Market Cap £5,704m
RiskGrade 127

Smiths Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
90.74% below the market average90.74% below the market average90.74% below the market average90.74% below the market average90.74% below the market average
71.43% below the sector average71.43% below the sector average71.43% below the sector average71.43% below the sector average71.43% below the sector average
Price Trend
36.11% above the market average36.11% above the market average36.11% above the market average36.11% above the market average36.11% above the market average
7.69% below the sector average7.69% below the sector average7.69% below the sector average7.69% below the sector average7.69% below the sector average
Income
40.48% below the market average40.48% below the market average40.48% below the market average40.48% below the market average40.48% below the market average
45.45% below the sector average45.45% below the sector average45.45% below the sector average45.45% below the sector average45.45% below the sector average
Growth
67.12% above the market average67.12% above the market average67.12% above the market average67.12% above the market average67.12% above the market average
85.71% above the sector average85.71% above the sector average85.71% above the sector average85.71% above the sector average85.71% above the sector average

What The Brokers Say

Strong Buy 4
Buy 6
Neutral 2
Sell 1
Strong Sell 0
Total 13
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Smiths Group Dividends

  Latest Previous
  Interim Final
Ex-Div 04-Apr-24 19-Oct-23
Paid 13-May-24 24-Nov-23
Amount 13.55p 28.70p

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 558,269 @ 1,641.50p
16:35 469 @ 1,641.50p
16:35 260 @ 1,641.50p
16:35 59 @ 1,641.50p
16:35 129 @ 1,641.50p

Smiths Group Key Personnel

CFO Clare Scherrer

Top of Page