RNS Number : 8140F
Smiths Group PLC
03 May 2011
London, 3 May 2011
For immediate release
SMITHS DETECTION MANAGEMENT CHANGE
Smiths Group plc today announces that Stephen Phipson, President of Smiths Detection, will step down with immediate effect and divisional management will report to Group Chief Executive, Philip Bowman, in the short term.
Trading in Smiths Detection in the second half of its financial year has fallen short of the Board's expectations as a result of continued delays to orders. Looking to the full year for Smiths Detection, the sales trends seen in the first half are likely to continue through the balance of the year, while full year margins may be affected by the associated operational gearing. Guidance for the other divisions remains unchanged.
The process to appoint a permanent replacement as President of Smiths Detection is underway.
This press release contains certain forward-looking statements with respect to the operations, performance and financial condition of 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 the press release and the Company undertakes no obligation to update these forward-looking statements. Nothing in this press release should be construed as a profit forecast.
+44 (0)20 7808 5535 / +44 (0)7825 145336
+44 (0)20 7808 5534.
Anthony Cardew, Cardew Group
+44 (0)7770 720389
Smiths is a global technology company listed on the London Stock Exchange (SMIN) and operates a sponsored level one ADR programme (SMGZY). A world leader in the practical application of advanced technologies, Smiths Group delivers products and services for the threat & contraband detection, medical devices, energy and communications markets worldwide. Our products and services make the world safer, healthier and more productive. Smiths Group employs more than 23,000 people in over 50 countries. For more information visit www.smiths.com
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