Smiths Group PLC’s (LON:SMIN) plan to spin off its struggling medical division is likely to be the focus of its interim results on Friday.
Last November the company said it was looking at separating Smiths Medical from the rest of the group to focus on its remaining industrial technology operations.
Sales at the unit, which makes medical devices, have been poor following the loss of big US contracts the suspension of some products following changes to EU regulations.
The business is the largest part of Smiths, representing about a third of revenues last year.
“The diversified industrial has recently suffered due to performance issues at its medical division caused by regulatory changes and the loss of contracts,” The Share Centre said.
“So this division will no doubt be the focus once again especially since management are looking at ways to divest it, possibly with a separate listing.”
The group’s other divisions have performed much better.
Global security worries, exacerbated by events such as last week’s terror attack in New Zealand, will have helped demand for the detection business, which provides the scanners used at Heathrow.
Flex-Tek's exposure to the US construction market should bring positive results, although weak oil prices could hit trading and new orders in the oil services division.
Investors await first steps by Sanne’s new CEO
Sanne Group PLC (LON:SNN) posts its full year numbers in the wake of news that its chief executive Dean Godwin has decided to retire from the provider of alternative asset and corporate services.
Martin Schnaier, previously its chief commercial officer, will succeed Godwin as CEO in May.
Shares reacted negatively to the January announcement.
Godwin joined Sanne in 2012 and led the company's successful IPO in 2015, with the firm growing its revenue and underlying operating profit by over 600% during the period of his tenure.
Investors will now be looking to see what direction Schnaier take the company.
As for the financials, Sanne has said it enjoyed a strong performance in the year with the second half of the year driving record new business and sales wins.
It achieved sales wins representing £13.0mln of additional annualised revenue in the second half of 2018.
Sanne expects underlying profit before tax for the year to 2018 to meet its guidance.
Major announcements due:
Interims: Smiths Group PLC (LON:SMIN)
Finals: Sanne Group PLC (LON:SNN), Henry Boot PLC (LON:BOOT)
Economic data: US existing home sales