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 - JP Morgan Chase & Co, Research Division - Analyst
: I've got a few questions, please. Maybe if I start with the restructuring program, I think, given you finished with it. I'm just interested on if you can
be -- at a very high level, kind of take us through the thinking on this. Because, I guess, a restructuring program in this environment, sort of the
inevitable assumption is that it's reacting to kind of pressures within the business, and the numbers don't really, I guess, suggest that. So I'm
interested in kind of -- if this is sort of a "fixing a problem" solution or whether this is something sort of bigger picture and longer term. Maybe if I
kind of start there.
Question: Andrew J. Wilson - JP Morgan Chase & Co, Research Division - Analyst
: That's helpful. Switching across to John Crane. And I think one of the, I guess, big questions we've got in the sort of near term and, I guess, over
the next 6 months as well is just thinking about the aftermarket side of John Crane. And clearly, it's been very resilient historically and I guess the
unique feature of the downturn in terms of access to customer sites, et cetera. So perhaps -- I'm just trying to get an understanding of sort of what
you've seen at the moment, whether you think there's potential for a catch-up, whether you're seeing some customers take advantage of sort of
where there are perhaps some downtime, just to get a better feel about -- I guess sort of give us a bit of confidence in terms of how that's developing.
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JUNE 30, 2020 / 8:00AM, SMIN.L - Q2 2020 Smiths Group PLC Trading Statement Call
Question: Andrew J. Wilson - JP Morgan Chase & Co, Research Division - Analyst
: And maybe just a final one on the Detection side. Obviously, you made the acquisition today. And I think you touched a little bit more on kind of
the biological side and the biological opportunities maybe in Detection than perhaps certainly I'd realized. And clearly, not claiming to be an expert
on COVID-19. I guess how much of what you're seeing in terms of COVID and the areas that, I guess, authorities are looking to spend and develop
products, how much of that sits in the sort of detections umbrella? And how much -- I guess, in short, how much of an opportunity do you think
is going to result from COVID for the Detection business? Because it feels to me that it's a much more significant opportunity than perhaps I kind
of previously appreciated.
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