Smiths Group releases transcript of FY2026 results briefing

• Smiths management briefed investors on FY2026 results, with remarks from CEO Roland Carter and CFO Julian Fagge.
• Portfolio reshaped via Smiths Interconnect and Smiths Detection disposals, crystallising £3.3 billion enterprise value; acquisition of DRC for £165 million.
• Launch of a process to divest John Crane’s US legacy asbestos liability; annual net asbestos cash outflow averaged around £20 million.
• Continuing operations organic revenue rose 1.2% to £1.9 billion; headline operating profit £399 million; margin 20.6%; headline EPS 86.8 pence.
• FY2027 guidance: organic revenue growth around 4%; headline operating margin about 21%; operating cash conversion in the low 90s range.

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