29 September 2010 - by admin
LONDON (MarketWatch) — U.K. engineering company Smiths Group said Wednesday that its net profit for the fiscal year ended July 31 rose 15% to 310 million pounds ($489 million), helped in part by a lower tax rate. The company said revenue for the year rose 3.9% to 2.77 billion pounds and pretax profit was up 0.6% at 373.1 million pounds. Excluding amortization charges, restructuring costs and other one-offs, the group said underlying operating profit was up 14%, with the biggest gain at its Smiths Detection division. “The uncertain economic outlook and constraints on government spending will continue to affect sales growth. However, we will concentrate on those opportunities within our control to improve performance further and enhance margins,” said CEO Philip Bowman.
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29 September 2010 - by admin
LONDON (MarketWatch) — U.K. engineering company Smiths Group said Wednesday that its net profit for the fiscal year ended July 31 rose 15% to 310 million pounds ($489 million), helped in part by a lower tax rate. The company said revenue for the year rose 3.9% to 2.77 billion pounds and pretax profit was up 0.6% at 373.1 million pounds. Excluding amortization charges, restructuring costs and other one-offs, the group said underlying operating profit was up 14%, with the biggest gain at its Smiths Detection division. “The uncertain economic outlook and constraints on government spending will continue to affect sales growth. However, we will concentrate on those opportunities within our control to improve performance further and enhance margins,” said CEO Philip Bowman.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
View full post on All Stories
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