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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Smiths Group Plc | LSE:SMIN | London | Ordinary Share | GB00B1WY2338 | ORD 37.5P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 10.00 | 0.63% | 1,590.00 | 1,590.00 | 1,592.00 | 1,599.00 | 1,577.00 | 1,592.00 | 3,219,536 | 16:35:29 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Srch,det,nav,guid,aero Sys | 3.04B | 231M | 0.6613 | 24.06 | 5.56B |
From Apr 2019 to Apr 2024
TIDMSMIN
RNS Number : 6001P
Smiths Group PLC
11 October 2019
11 OCTOBER 2019
SMITHS GROUP PLC
ANNUAL FINANCIAL REPORT 2019
LISTING RULE LR 9.6.3 R
Smiths Group plc (the 'Company') is submitting today copies of the documents listed below to the Financial Conduct Authority, in compliance with Listing Rule LR 9.6.1 R.
1. Annual Report FY2019 (for the financial year ended 31 July 2019);
2. Notice of Annual General Meeting 2019; and
3. Annual General Meeting Proxy Form.
The above-mentioned documents will be uploaded to the National Storage Mechanism website, in pdf file format, and will shortly be available for viewing by visiting www.morningstar.co.uk/uk/NSM.
Copies of the documents referred to above have today been made available to shareholders in accordance with their elections for Company communications.
The Annual Report FY2019 and the Notice of Annual General Meeting 2019 can be viewed online by visiting the Company's website, www.smiths.com. Printed copies may be obtained by writing to the Company Secretary, Smiths Group plc, 4th Floor, 11-12 St James's Square, London SW1Y 4LB, UK or sending an e-mail request to secretary@smiths.com.
DISCLOSURE GUIDANCE & TRANSPARENCY RULE DTR 6.3.5(2)
A condensed set of the Company's consolidated financial statements and information on important events that occurred during the financial year ended 31 July 2019 and their impact on the financial statements were contained in the Smiths Group plc Annual Results for the year ended 31 July 2019 announcement issued by the Company through the Regulated News Service of the London Stock Exchange at 07:00 on 20 September 2019 (RNS No. 0370N) (the 'Results announcement').
Other than the information set out below (which is extracted from the Annual Report FY2019), the regulated information in the Annual Report FY2019 that is of a type that would be required to be disseminated in a half-yearly report has already been released in unedited full text via the Results announcement.
Together, the regulated information set out below and the regulated information contained in the Results announcement constitute the material required by Disclosure Guidance & Transparency Rule DTR 6.3.5 to be communicated to the media in full unedited text through a Regulatory Information Service. Page and note references in the text extracts below refer to page numbers and to notes to the financial statements in the Annual Report FY2019 (available online from www.smiths.com and www.morningstar.co.uk/uk/NSM). The statutory accounts of the Company for the financial year ended 31 July 2019 will be delivered to the Registrar of Companies in due course.
This announcement is not a substitute for reading the full Annual Report FY2019.
An extract comprising the unedited full text on pages 64 to 70 in the Annual Report FY2019 is set out below. Certain non-reproducible graphics contained in the Annual Report FY2019 are not reproduced. The graphic version of pages 64 to 70 of the Annual Report FY2019 is attached as a pdf file.
http://www.rns-pdf.londonstockexchange.com/rns/6001P_1-2019-10-11.pdf
PRINCIPAL RISKS AND UNCERTAINTIES
We maintain a register of principal risks and uncertainties covering the strategic, financial, compliance and operational risks faced by the Group.
We review each risk and rate a number of factors: gross impact, applying the hypothetical assumption there are no mitigating controls in place; residual impact and likelihood, taking into account existing mitigating controls; target impact; the reputational impact of a risk; and its velocity, which reflects the expected time we would have to react should a risk materialise. These, in turn, drive mitigation priorities. A trend metric shows the net position of the risk year-on-year.
We updated our register of principal risks and uncertainties following review by the Executive Committee and approval by the Board. Two risks reported in FY2018 have been merged to form the integrated supply chain risk. Customer has been added as a new principal risk.
While we continue to monitor and manage a wider range of risks, the risk map and the tables that follow summarise those risks considered to have the greatest potential impact if they were to materialise.
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RISK POTENTIAL IMPACT KEY MITIGATING CONTROLS ASSURANCE
TECHNOLOGY -Material adverse -Proactive repositioning -Vitality data
Differentiated effect on margin of the portfolio around is reviewed and
new products and and profitable the most attractive is part of the
services are critical growth markets where we can SES dashboard
to our success. -Erosion of our sustainably hold a -Adherence to
We may be unable reputation as a top three position NPI process is
to maintain technological leader in our markets based on technology audited and embedded
differentiation and of our ability leadership in systems
or to meet customers' to attract and -Diversified technology -Technology Roadmap
needs and may face retain talent portfolio serving a is part of the
disruptive innovation -Need for higher range of sectors and Group strategic
by a competitor. R&D spend to maintain geographies, mitigating cycle
sales growth exposure to any one
Risk owner: Andy sector or area
Reynolds Smith -Increased and smarter
Trend: Increase investment in R&D
from FY2018 (FY2019: 4.5% of continuing
Link to SES: Technology; operations revenue,
Customer; Programme FY2018: 4.1%)
Included in viability -Focus on building
assessment: n/a a culture of innovation
Link to strategic with a long-range
objectives: Outperform Technology
our chosen markets; Roadmap for each division
Deliver world-class -Targets to increase
competitiveness; the proportion of spend
Strong financial on next generation
framework and transformational
initiatives
-New Product Introduction
(NPI) process established
across divisions to
accelerate projects
-Vitality Index as
KPI
-Robust IP protection
via patents and other
protections, and litigation
where appropriate
---------------------------- ----------------------------- ---------------------------
ECONOMY AND GEOPOLITICS -Governments continue -Diversified portfolio -Impact of US
There are external to look for ways of businesses which sanctions to
indicators that to improve tax mitigates exposure date has
we are in the late revenues to ease to any one country been absorbed
stage of the economic fiscal budget pressures or sector and geographic -Order tracking
cycle. Threats -Adverse impact spread which mitigates reported and
to free trade are on business performance the impact of trade monitored
increasing. due to the imposition barriers between regions -Brexit coordination
of tariffs -Divisions monitor group working
Risk owner: John -The consequences order flows and other effectively
Shipsey of Brexit are uncertain. leading indicators
Trend: Increase Potential effects, so that they may respond
from FY2018 applicable to many quickly to deteriorating
Link to SES: Production businesses, include trading conditions
Included in viability economic and and tariffs/barriers
assessment: n/a operational uncertainty, to free trade
Link to strategic volatility of currency -Identification and
objectives: Outperform exchange, regulatory application of learnings
our chosen markets; changes and the from past downturns
Deliver world-class imposition of tariffs through the cycle
competitiveness; on trade between -Sustainable tax strategy
Strong financial the UK and the to optimise the Group's
framework Eurozone position
-Geopolitical tensions, -Representation of
most notably in our interests by the
China, US, India, corporate affairs team
the Middle East, -Network of trade
South Korea and compliance
North Korea officers across the
Group who monitor upcoming
changes in regulation
and oversee import
and export activities
-Monitoring of the
ongoing negotiations
between the UK and
the EU in order to
assess the potential
impact of Brexit and
any transitional
arrangements
which may be agreed
---------------------------- ----------------------------- ---------------------------
ACQUISITION / INTEGRATION -Poor acquisitions -Investment in greater -Strong internal
AND DIVESTMENT / divestments, internal capability team
/ SEPARATION or poorly for the evaluation -Proper governance
Our strategy is Managed integrations and execution of and oversight
predicated primarily / separations, transactions -Learnings from
on organic growth. lead -Regular reviews of previous acquisitions
However, directly to financial the acquisition pipeline (Morpho Detection,
acquisitions/divestments damage and indirectly and a stage-gated M&A Seebach GmbH,
can also play a to loss of shareholder process United Flexible)
role in building confidence -Detailed due diligence and divestments
and/or strengthening -Newly-acquired and integration work (PDI, Microwave,
competitive positions. products and solutions in accordance with Wallace, Bearings)
Acquisitions bring deliver less value, our acquisitions and -Ongoing evaluation
risk as well as fewer synergies, disposals policy measured against
opportunity. We or require more -Detailed separation original business
may invest substantial investment than planning, in accordance case
funds and resources anticipated with our acquisitions
in acquisitions -Fall in our return and disposals policy
which fail to deliver on capital employed -Governance ensures
on expectations measure multi-disciplinary
- due to incorrect -Financial performance sign off
appraisal of the suffers from goodwill -Larger transactions
target and/or poor or other approved by the full
execution. The acquisition-related Board
opposite risk is impairment charges -Post-transaction reviews
that (perhaps through or inheritance with lessons learned
an excess of caution) of material unknown incorporated into future
we miss out on liabilities projects
opportunities to --Use of external advisors
build market-leading
positions and growth.
Divestments also
carry risk. We
may divest an asset
at the wrong time,
or may not realise
appropriate value
for the asset.
Separation may
be complex and,
if poorly executed,
may impact the
wider business.
Risk owner: John
Shipsey
Trend: No change
Link to SES: Programme
Included in viability
assessment: n/a
Link to strategic
objectives: Outperform
our chosen markets;
Strong financial
framework
---------------------------- ----------------------------- ---------------------------
PRODUCT QUALITY -Recall of products -Divisional quality -Quality KPIs
In the ordinary due to manufacturing risk assessments which (e.g. DPPM, COPQ)
course of business flaws, component address product failures, are
we are potentially failures, damage product measured and
subject to product to persons / property, compliance, regulatory action plans
liability claims and/or design defects, compliance, product put in place
and lawsuits, including in order to avoid performance, product to drive their
potential class serious, or potentially safety and improvement -
actions. The catastrophic, failure market authorisation these are regularly
mission-critical -Damage to our risks reported
nature of many reputation amongst -Quality assurance -Group and divisional
of our solutions customers and reduction processes embedded governance
makes the potential in market acceptance in manufacturing locations frameworks (including
consequences of of, and demand for critical equipment, Delegation of
failure more serious for, our supporting compliance Authority) ensure
than may otherwise products from an with industry regulations a close working
be the case. adverse event involving (e.g. FAA, FDA, API, relationship
one of our products etc.) between legal
Risk owner: Divisional -Exposure to losses -Quality development and commercial
Presidents in the event of and quality integration teams (includes
Trend: No change a cyber built into NPI processes quality) to manage
Link to SES: Technology; security breach -Risk analysis and risks
Programme; Production relating to our mitigation processes -Fewer quality
Included in viability products relating to product issues at launch
assessment: Yes -These include cyber resilience embedded of 2 new products
Link to strategic not only customer in the product lifecycle
objectives: Deliver losses, but also process. Proactive
world-class those of a potentially steps taken to ensure
competitiveness large class of product cyber related
third parties risks are continually
monitored and managed
-Group-wide Quality
Council drives standard
definitions, identifies
and shares best practice,
and reduces the cost
of
poor quality
-Insurance cover for
product liability
-Material litigation
managed under the oversight
of the Group General
Counsel
---------------------------- ----------------------------- ---------------------------
ETHICAL BREACH -Failure to comply -Group-wide ethics -Multiple sources
We have more than with export regulations framework which includes to assess culture
22,000 employees leads to significant the Smiths Way, the including My
in more than 50 fines and a loss Code of Business Ethics Say results,
countries. Individuals of export privileges and the Supplier Code 'Speak Out'
may not all behave -Failure to meet of Conduct reports, internal
in accordance with strict conditions -Policies and procedures audit findings,
the Group's values within to mitigate distributor exit
and ethical standards. government contracts, and agent related risks interviews and
We operate in highly particularly in including due diligence, ethics questions
regulated markets the US, could have contractual controls in
requiring strict serious financial and internal approvals performance reviews
adherence to laws and reputational -Anti-bribery and -Monitoring and
with risk areas consequences corruption reporting on
including: -Increased risk training for all employees compliance with
- bribery and corruption; of illegal supported by the 'Speak ethics and compliance
-anti-trust matters; anti-competitive Out' line encouraging policies
-international activity such as the reporting of ethics -Tracking of
trade laws and collusion with violations (includes on-line ethics
sanctions; competitors as ability to report training and
-human rights, a result of operating anonymously compliance modules
modern slavery in relatively and a non-retaliation -Reporting non-compliance
and international consolidated markets policy) cases
labour standards; -US fines and penalties -Reporting and to business,
-General Data Protection imposed for price investigation Executive and
Regulation (GDPR); fixing, bid rigging mechanisms Audit &
and and other cartel-type -Antitrust training Risk Committees
-government contracting activities can programmes
regulations exceed $100m per and guidance
violation -Network of trade
Risk owner: Mel -Ethics or compliance compliance
Rowlands breach causes harm officers across the
Trend: No change to our reputation, Group that monitor
Link to SES: People; financial performance, upcoming changes in
Customer; Supply customer relationships regulation and oversee
Included in viability and our ability import
assessment: Yes to and export activities
Link to strategic attract and retain -Legal function monitors
objectives: Deliver talent legislative changes
world-class and reports and monitors
competitiveness actions as necessary
-Modern Slavery and
Transparency Statement
and procedures to reduce
the risk of modern
slavery within the
Group and our supply
chain
-Multi-functional programme
for
GDPR compliance
---------------------------- ----------------------------- ---------------------------
CYBER SECURITY -Compromised -Board oversight of -Formal reviews
Cyber attacks seeking confidentiality, the approach to mitigating with Executive
to compromise the integrity and cyber risk Committee
confidentiality, availability -Proactive focus on and the Board
integrity and availability of our assets resulting information and cyber -Vulnerability
of IT systems and from a security risks supported scanning/event
the data held on cyber attack, impacting by a strong reporting embedded
them are a continuing our ability to governance framework -External reviews
risk. We operate deliver to customers -Group-wide assessment of vulnerability
in markets and and, ultimately, of critical information controls
product areas which financial assets and protection -Mandatory staff
are known to be performance and to enhance security training
of interest to reputation -Information Security -Compliance with
cyber criminals. -Exposure to significant Awareness programme recognised standards
losses in the event -Security monitoring -Cyber leads
Risk owner: Philippe of a cyber security to provide at divisions
Roman breach relating early detection of
Trend: No change to our security hostile activity on
Link to SES: Technology; or medical products. Smiths networks and
Programme These include not an incident management
Included in viability only customer losses, process
assessment: Yes but also those -Partnership and monitoring
Link to strategic of a potentially arrangements in place
objectives: Deliver large class with critical third
world-class of third parties parties, including
competitiveness communications service
providers
-Cyber risk analysis
and mitigation processes
embedded in the product
lifecycle process to
increase resilience
---------------------------- ----------------------------- ---------------------------
INTEGRATED SUPPLY -Inability to deliver -Supply excellence -Externally provided
CHAIN products/solutions pillar of our SES operating business interruption
Timely, efficient to customers, impacting model delivers increased risk surveys
supply of raw materials financial performance focus on efficient, of operational
and purchased components and reputation resilient and cost sites
is critical to effective -Business continuity
our ability to supply planning (BCP)
deliver to our -Business continuity testing and results
customers. and disaster recovery -Insurance requirements
Manufacturing continues plans in place and driven by the
to be exposed to tested for critical Group's / divisions'
external events locations risk appetite
which could have -Regular evaluation is validated
significant adverse of key sites for a at least annually
consequences, including range of risk factors -Mitigation plans
natural catastrophes, using externally reviewed at divisional
disease pandemics benchmarked procurement leadership
and terrorist attacks. assessments team meetings
We are also affected -Mitigation plans for and reported
by the social, sole source suppliers, in the procurement
economic, regulatory sub-contractors and scorecard
and political conditions service providers are
where we operate. developed and deployed
This applies to by divisions to
our own manufacturing include qualification
sites and those of alternative sources
of our key component of suppliers where
suppliers. appropriate
-Business interruption
Risk owner: Philippe and property damage
Roman insurance
Trend: No change
Link to SES: Supply
Included in viability
assessment: Yes
Link to strategic
objectives: Deliver
world-class
competitiveness
---------------------------- ----------------------------- ---------------------------
MARKETS -Failure to develop -A diversified portfolio -Increased rate
A significant proportion other markets and of businesses mitigates of growth provides
of our revenue geographies impacts exposure to any one assurance that
comes from the strategic progress country, sector or actions are working
US and European and financial performance customer -Managing Director
markets, with a -Significant disruption -Growth strategy which councils established
notable proportion to government budgets places emphasis on in India and
coming from governments. results in fewer expanding operations China
In addition to contracts in higher-growth -Joint venture
geographical markets, being awarded to markets and regions and partnership
there is a risk Smiths, impacting which are currently arrangement in
we do not focus financial performance underserved, including China
on attractive market Asia -Digital Forge
sectors where we -Strategic process established
have, or could to capture
have, a sustainable continuing opportunities
position. in current and adjacent
markets
Risk owner: Roland -Corporate affairs
Carter function which
Trend: No change collaborates with
Link to SES: Technology; colleagues
Customer across the Group to
Included in viability advise on developments
assessment: n/a -More resilient services
Link to strategic and consumable components
objectives: Outperform built into some of
our chosen markets our government-related
business
---------------------------- ----------------------------- ---------------------------
CUSTOMERS -Loss of market -As part of the Group -Megatrend workshops
Our markets are share and adverse innovation framework and disruption
evolving at a fast impact on Group and our approach to risks
pace, creating results potential technology reviewed annually
potential for customers -Material adverse disruption, we include -Customer input
to change their effect on profitable customer disruption gathered on a
business models growth as well as competitor frequent basis
as they look to -Erosion of our and product -Pilot programmes
deliver products reputation as a -New product innovation to test products,
and services at leader in feedback through market business models
higher quality, our markets research and direct and partnerships
with better service feedback from existing -Strategic review
and at lower cost. and potential customers process; divisional
Failure of the -Developing business deep dives
Group to keep pace models is a core component
with customer changes of the Group-wide training
/ requirements agenda
(innovation, go
to market, strategies)
could have a materially
adverse impact
on Group performance.
Risk owner: Julian
Fagge
Trend: Increase
from FY2018
Link to SES: Customer;
Programme
Included in viability
assessment: n/a
Link to strategic
objectives: Outperform
our chosen markets
---------------------------- ----------------------------- ---------------------------
CONTRACTUAL OBLIGATIONS -Production delays, -Contracts managed -Divisional legal
We may fail to unexpected increases and delivered by programme teams embedded
deliver the products in costs of materials, management teams that in the business,
and services we freight, quality regularly review risks working cross-functionally
are obliged to and and take appropriate throughout the
deliver, or fail warranty issues action contract lifecycle
in our contractual resulting from -Review and approval -Review and approval
execution due to differences process for significant process for contracts
delays or breaches between estimated and higher-risk contracts determined by
by our suppliers and actual costs in place at Group adherence to
or other counterparties. in our and divisional levels the Delegation
medium and long-term -Diversified nature of Authority
Risk owner: Mel contracts of the Group mitigates matrix
Rowlands -Breach of contract exposure to any single -Insurance programme
Trend: No change resulting in significant contract tailored to reflect
Link to SES: Customer; expenses due to -Programmes in place the risk appetite
Supply; Programme; disputes and claims, across the of the Group
Production loss of customers, Group which harmonise -Uniform diligence
Included in viability damage to Smiths the contract review and contracting
assessment: n/a reputation process process in place
Link to strategic with other customers -Cross-divisional US for agents and
objectives: Deliver / prospective Government working distributors
world-class customers, and group determines and
competitiveness loss of revenue shares best practice
and profit on government contracting
due to higher costs,
liquidated damages
or
other penalties
-Contracts, particularly
those with
governments, may
include terms that
provide for unlimited
liabilities, including
for loss of profits,
IP indemnities,
perpetual
warranties or allowing
the counterparty
to cancel modify
or terminate unilaterally
and seek alternative
sources of supply
at Smiths expense
---------------------------- ----------------------------- ---------------------------
PEOPLE -Inability to attract -Investment to build -Participation
People are our key talent leading a learning organisation rates in the
only truly sustainable to a with a focus on culture, Smiths learning
source of competitive loss of competitive reward and recognition and development
advantage and competition advantage -Implementation of programmes measured.
for key skills -Difficulty in the right Capability and
is intense, especially retaining personnel, HR infrastructure performance of
around science, at all -Delivery of a range alumni are tracked
technology, engineering levels of the of learning and development -Benchmarking
and mathematics organisation, opportunities at all ratio of hires
(STEM) disciplines. leading to a loss levels of the organisation into senior
We may not be successful of competitive -Talent and succession roles from internal
in attracting, advantage plan reviews and external
retaining, developing, -In acquisitions, -Remuneration packages sources
engaging and inspiring losing key personnel evaluated regularly -Formal and informal
the right from against market trends measures of culture,
people with the the newly-acquired -Chief Executive assessment for example regular
right skills to business which of the leadership team engagement surveys
achieve our growth may -Annual performance with follow up
ambitions. significantly impact management reviews action planning
performance and for the majority of -Measurement
Risk owner: Sheena value employees using best of the effectiveness
Mackay practice processes of the Executive
Trend: No change such as 360-degree education programme
Link to SES: People feedback surveys through post
Included in viability -Formal career counselling completion evaluation
assessment: n/a for senior people in tests
Link to strategic the business -Post-acquisition
objectives: Deliver -A clearly defined review meetings
world-class people integration
competitiveness plan for acquisitions
-People Plan oversight
by the Board
-Diversity & Inclusion
Plan and initiatives
---------------------------- ----------------------------- ---------------------------
STATEMENT OF DIRECTORS' RESPONSIBILITIES
The Directors are responsible for preparing the Annual Report and the Group and Parent Company financial statements in accordance with applicable law and regulations.
Company law requires the Directors to prepare accounts for each financial year. Under company law the Directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Company and of the profit or loss of the Group for that period. In preparing these accounts, the Directors are required to:
- select suitable accounting policies and then apply them consistently; - make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable IFRSs as adopted by the European Union have been followed for the Group financial statements and United Kingdom Accounting Standards, comprising FRS 101, have been followed for the Company financial statements, subject to any material departures disclosed and explained in the financial statements; and
- prepare the accounts on the going concern basis unless it is inappropriate to presume that the Group and the Company will continue in business.
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Group's and the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Company and enable them to ensure that the accounts and the Directors' Remuneration Report comply with the Companies Act 2006 and, as regards the Group financial statements, Article 4 of the IAS Regulation. They are also responsible for safeguarding the assets of the Group and the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Directors are responsible for the maintenance and integrity of the Company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
DIRECTORS' RESPONSIBILITY STATEMENT
The Directors consider that the Annual Report, taken as a whole, is fair, balanced and understandable and provides the information necessary for shareholders to assess the Group's position and performance, business model and strategy.
Each of the Directors (who are listed on pages 76 to 79) confirms that to the best of his or her knowledge:
- the Group's financial statements have been prepared in accordance with IFRS as adopted by the European Union and give a true and fair view of the Group's assets, liabilities and financial position as at 31 July 2019 and of its profit for the financial year then ended;
- the Group Directors' Report and Strategic Report include a fair review of the development and performance of the business and the position and
- performance of the Group, together with a description of the principal risks and uncertainties that the Group faces;
- the Company financial statements, which have been prepared in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS 101 "Reduced Disclosure Framework", and applicable law), give a true and fair view of the assets, liabilities, financial position and profit of the Company; and
- as at the date of this report there is no relevant audit information of which the Company's auditor is unaware. Each Director has taken all the steps he or she should have taken as a Director in order to make himself or herself aware of any relevant audit information and to establish that the Company's auditors are aware of that information.
Signed on behalf of the Board of Directors:
Andy Reynolds Smith John Shipsey Chief Executive Chief Financial Officer
19 September 2019
Enquiries:
Matthew Whyte
Deputy Company Secretary
Matthew.Whyte@smiths.com
+44 (0) 20 7004 1674
This document contains certain statements that are forward-looking statements. They appear in a number of places throughout this document and include statements regarding the intentions, beliefs and/or current expectations of Smiths Group plc (the "Company") and its subsidiaries (together, the "Group") and those of their respective officers, directors and employees concerning, amongst other things, the results of operations, financial condition, liquidity, prospects, growth, strategies and the businesses operated by the Group. By their nature, these statements involve uncertainty since future events and circumstances can cause results and developments to differ materially from those anticipated. The forward-looking statements reflect knowledge and information available at the date of preparation of this document and, unless otherwise required by applicable law, the Company undertakes no obligation to update or revise these forward-looking statements. Nothing in this document should be construed as a profit forecast. The Company and its directors accept no liability to third parties. This document contains brands that are trademarks and are registered and/or otherwise protected in accordance with applicable law.
Legal Entity Identifier (LEI): 213800MJL6IPZS3ASA11
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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