Smiths Group Annual Report 2013

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Annual Report 2013 Smiths Group plc Bringing technology to life 2013 Performance highlights Headline revenue £m £3,109m +2% 2,842 2,665 2,770 3,038 3,109 Headline operating profit £m £560m +1% 492 418 517 554 560 2009 2010 2011 2012 2013 Read more on page 28 and note 1 2009 2010 2011 2012 2013 Read more on pages 28, 146 and note 1 Operational highlights • Headline revenue 2% higher, driven by John Crane, Smiths Detection and Flex-Tek • Headline operating profit up 1% – increased investment in growth • Strong headline operating cash conversion at 98% – with free cash-flow of £237m • Company-funded investment in new product development up 5% to £112m • Emerging market revenue up 14%; now representing 16% of Group revenues • Identified another phase of restructuring in all divisions to fund growth/enhance margins • Dividend up 4% to 39.5p and special dividend of 30p, reflecting the balance sheet strength The purpose of this document is to provide information to the members of the Company. This document contains certain statements that are forward-looking statements. They appear in a number of places throughout this document and include statements regarding our intentions, beliefs or current expectations and those of our officers, directors and employees concerning, amongst other things, our results of operations, financial condition, liquidity, prospects, growth, strategies and the business we operate. By their nature, these statements involve uncertainty since future events and circumstances can cause results and developments to differ materially from those anticipated. The forwardlooking 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
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