The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Andrew J. Wilson - JPMorgan Chase & Co, Research Division - Analyst
: I've got 2. If I can just start, I guess, looking -- I guess just trying to understand some of the margin dynamics for FY '23. Clearly, the guidance is after
the moderate expansion. But just wondering if you can help us a little bit with some of the moving parts. Obviously, you provided a good level of
detail for '22. And I guess just even kind of the building blocks, particularly, I guess, I'm interested in understanding around supply chain. And if
you've seen any easing into the year-end, maybe the start of this year or whether we should expect, I guess, sort of similar headwinds again in '23,
if I start there.
Question: Andrew J. Wilson - JPMorgan Chase & Co, Research Division - Analyst
: Yes, I'll come back to it. It's different, so I'll come back to it.
Question: Andrew J. Wilson - JPMorgan Chase & Co, Research Division - Analyst
: That's helpful. My second question is, I guess, very different. And I'm interested around the promotion, I guess, of the China role to the exec
committee. I think it's probably been felt that Smiths has been probably underweight in terms of emerging markets more broadly in China, maybe
specifically. I appreciate it's early days in terms of developing that strategy potentially, but interested in terms of your perception of how that
opportunity has been managed and targeted previously, kind of what was right with that and what was wrong with it and maybe what difference
we might see going forward because it feels to me that potentially could be quite a big opportunity.
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