- Smiths Group said the net impact of new US tax legislation on the company would be favourable over the medium term.

For the current financial year, it anticipated a headline effective tax rate of 27.5-28.5%, which included a one-off adverse revaluation of its deferred tax asset position.

For the 2019 financial year and beyond, its headline effective tax rate was estimated to be in the range of 23.0-25.0%, it added.

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