LONDON (dpa-AFX) - Smiths Group plc (SMIN.L) announced a number of strategic actions to enhance returns to shareholders. It will simplify the Group to focus on high performance industrial technologies for efficient flow and heat management which are delivered by John Crane and Flex-Tek businesses. Smiths will launch a sale process for Smiths Interconnect and is targeting a transaction announcement by the end of calendar year 2025. Smiths will subsequently progress the separation of Smiths Detection either by way of a UK demerger or sale. The Board has established a committee to oversee the implementation of these strategic actions. Also, Smiths announced a further increase in its share buyback programme from 150 million pounds to 500 million pounds.
With regard to recent cyber incident, Smiths Group said, as a result of the immediate, proactive measures, it has been able to minimise the impact on operations. The guidance for the full year is unchanged. The Group anticipates a portion of the revenue from the last week of January will shift into the second half of the financial year.
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