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Prices & Quotes - UK Markets - Smiths Group (SMIN)

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Share Price:
Up 1,608.00p
Change Today:
24.00p
Market Cap:
6,374m
Sector:
General Industrials

Smiths declares dividend as business stabilises

By Sean Farrell

Date: Thursday 24 Sep 2020

LONDON (ShareCast) - (Sharecast News) - Smiths Group reinstated its dividend as the FTSE 100 engineer said business had stabilised after a sharp drop in annual profit.



Statutory operating profit fell 26% to 241m in the year to the end of July as revenue rose 2% to 2.55bn. Headline operating profit fell 11% to 382m and underlying revenue fell 1%

After scrapping its interim dividend in March, Smiths proposed a total dividend for the year of 35p per share, down from 45.9p a year earlier.

Smiths said the payout reflected its strong performance and confidence about the future. It said trends had stabilised and group underlying revenue was down 5% in the past four months. The company continued to withhold financial guidance because of uncertainty over the extent and duration of the Covid-19 crisis.

Revenue rose 3% in the first half and fell 4% in the second half as the Covid-19 crisis affected performance. Smiths said its results were resilient and reflected its high aftermarket revenues.

Chief Executive Andy Reynolds Smith said: "The strength of performance during the year and our confidence in the future support the proposed total dividend. We remain prudent as we continue to navigate the ongoing uncertainty. We are seeing a stabilisation of recent trends but we are not complacent and are continuing to strengthen the business to deliver sustainable outperformance in the future."

After delaying the planned sale of its medical business in March the company said its intention to separate the division was unchanged. Smiths said it was on track for 70m of restructuring gains by the 2022 full year.

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Smiths Group Market Data

Currency UK Pounds
Price 1,608.00p
Change Today 24.00p
52 Week High 1,661.00p
52 Week Low 1,245.50p
Volume 568,267
Shares Issued 396.37m
Market Cap 6,374m

Performance Indicators

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What The Brokers Say

Strong Buy 9
Buy 1
Neutral 4
Sell 1
Strong Sell 0
Total 15
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 08-Apr-21 22-Oct-20
Paid 14-May-21 20-Nov-20
Amount 11.70p 24.00p

Trades for 11-Jun-2021

Time Volume / Share Price
16:35 329,822 @ 1,608.00p
16:29 1 @ 1,609.50p
16:29 111 @ 1,609.00p
16:29 59 @ 1,608.50p
16:29 16 @ 1,608.50p

Smiths Group Key Personnel

Chair George Buckley
CFO John Shipsey