Annual Report

Making a safer, more efficient and better connected world

  • Sir George Buckley
    Chairman’s statement
    Building a sustainably competitive company
    “We believe that achieving above market organic growth is the best way to build a sustainably competitive company. This is clearly our long term goal.”
  • Andy Reynolds Smith
    CEO Q&A
    A significant year in the evolution of smiths
    “We made further progress on our strategic plan – delivering continued, sustainable growth on the way to outperforming our markets. In this context of progress and confidence in the future, we announced plans to separate Smiths Medical to create two stronger, industry-leading companies with distinct strategies and focus.”
FY2019 highlights
  • Underlying revenue growth
    +3%
    FY2018: +3%
  • Headline operating profit margin
    17.1%
    FY2018: 16.7%
  • Total Group ROCE
    14.4%
    FY2018: 14.6%
  • Total Group operating cash conversion
    83%
    FY2018: 99%
  • Total Group working capital % of sales
    26%
    FY2018: 26%
  • Total Group dividend per share
    45.90p
    FY2018: 44.55p
  • Portfolio strength
    >90%
    well positioned in attractive markets
    FY2018: ~80%
  • Higher-growth regions
    20%
    revenue from higher-growth regions
    FY2018: 20%
  • Aftermarket & services
    49%
    FY2018: 48%
  • Total Group Vitality Index
    13%
    FY2018: 13%
  • Total Group stock turns
    3.4x
    FY2018: 3.7x
  • Total Group Safety RIR
    0.41
    per 100 colleagues
    FY2018: 0.39

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