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Airport scanner maker Smiths grows revenue
SHARES in Smiths Group jumped in early trading yesterday after the technology conglomerate said sales had increased and left its expectations for the full-year unchanged.
The maker of Heathrow’s airport scanners said sales grew in the nine months to 28 April, partly due to a strong performance at its mechanical seal maker John Crane.
The company also said margin improvements in its John Crane and Flex-Tex businesses meant operating profit was ahead of the same period last year.
However, underlying sales at Smiths Medical were flat on last year in the face of constrained healthcare budgets.
Smiths Detection, the unit that makes airport security scanners, grew sales in the three months to end April, the firm said.