UK engineering firm Smiths posts 9.5% rise in first-half profit
March 25 (Reuters) - Britain's Smiths Group (SMIN.L), opens new tab reported a 9.5% jump in first-half profit on Tuesday, helped by demand for its baggage-screening kits and explosives detectors, and reaffirmed its annual revenue growth forecast of 6%-8%.
The company had said in January it would spin off the business that makes airport baggage-screening kits and explosive detectors, and the unit which supplies electronic components, after pressure from U.S. activist investor Engine Capital, and focus on industrial technologies units.
Get a look at the day ahead in European and global markets with the Morning Bid Europe newsletter. Sign up here.
Smiths reported headline operating profit of 269 million pounds ($347.6 million), compared with 246 million pounds a year ago and a company-compiled consensus estimate of 271 million pounds.
($1 = 0.7740 pounds)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Powys County Times
3 hours ago
- Powys County Times
Napoleonic prisoner of war camp buried under field bought from farmer
A Napoleonic prisoner of war camp buried under a field in Cambridgeshire has been bought by a trust with the intention of preserving it as a historic site. Norman Cross, the world's first purpose-built prisoner of war camp, was privately owned by a farmer, and has been bought by Nene Park Trust. Located near Peterborough, it contains the remains of around 1,770 French, Dutch and German soldiers captured in the Revolutionary and Napoleonic Wars fought between the French and other European nations. The trust says it wants to preserve the site and make it available to the public as a historic and green space. The camp now lies barely visible under a field used for arable crops and grazing. But it previously held a self-contained town, with barracks, offices, a hospital, school, marketplace and banking system, according to historian Paul Chamberlain. It operated from 1797 to 1814 and housed around 7,000 French prisoners. The location was chosen because it was far from the sea, making it difficult for any escapees to return to France. Prisoners made intricate models from bone, wood and straw to sell at the camp market and trade for food, tobacco and wine. Around 800 of these artefacts, which include miniature ships and chateaus, are on display at the nearby Peterborough Museum and Art Gallery. The trust received £200,000 of grant funding from Historic England and £50,000 from the National Lottery Heritage Fund to buy the camp following years of negotiations. Its acquisition was fought for by resident Derek Lopez, who owned the Norman Cross Gallery near Yaxley and was an advocate of Peterborough's history. He died last year before seeing the sale complete. Duncan Wilson, chief executive of Historic England, said: 'The Norman Cross prisoner of war camp represents a pivotal moment in our shared European heritage that deserves to be better known.' Matthew Bradbury, chief executive of Nene Park Trust, said he was 'delighted' to take on the ownership of Norman Cross and wanted 'to share its green space and unique stories for generations to come'. Heritage minister Baroness Twycross said: 'Norman Cross represents a poignant chapter in our shared European story. 'The remarkable stories of those held in what was the first purpose-built prisoner of war camp should be remembered now and in the future. 'This partnership has secured this valuable heritage site for generations to come.'
Leader Live
5 hours ago
- Leader Live
Palace co-owner John Textor would sell shares for Europa League chance
The American, whose Eagle Football Group owns 43 per cent of Palace, has imperilled the club's chance of a first-ever European campaign owing to his involvement with Ligue 1 side Lyon, but is ready to offload his stake to his fellow co-owners in order to bring the saga to an end. UEFA does not allow clubs with the same ownership to compete in the same European competitions in a season. As well as his stake in Palace, the 59-year-old has a controlling stake in the French club, also via Eagle Football. However it is also reported that the European governing body does not consider Textor's influence at Selhurst Park to be decisive and is leaning towards allowing the club into the Europa League regardless. The PA news agency understands no formal decision is likely on Palace's fate until the end of June. Textor has previously spoken of his frustration at how little influence his stake entitles him to, over football matters. Victory for Oliver Glasner's side over Manchester City in last month's FA Cup final gave them their first major trophy and with it a first crack at Europe. However, Nottingham Forest have since written to UEFA to challenge Palace's Europa League spot and in the hope of taking their place. Forest's owner Evangelos Marinakis, who also owns Greek side Olympiacos, placed his shares in the club in a blind trust before the governing body's March 1 deadline, anticipating Nuno Espirito Santo's side's European qualification. At present Forest, who finished seventh in last season's Premier League, are set to enter the Conference League but would take Palace's Europa League place, should they be deemed ineligible.
South Wales Guardian
5 hours ago
- South Wales Guardian
Palace co-owner John Textor would sell shares for Europa League chance
The American, whose Eagle Football Group owns 43 per cent of Palace, has imperilled the club's chance of a first-ever European campaign owing to his involvement with Ligue 1 side Lyon, but is ready to offload his stake to his fellow co-owners in order to bring the saga to an end. UEFA does not allow clubs with the same ownership to compete in the same European competitions in a season. As well as his stake in Palace, the 59-year-old has a controlling stake in the French club, also via Eagle Football. However it is also reported that the European governing body does not consider Textor's influence at Selhurst Park to be decisive and is leaning towards allowing the club into the Europa League regardless. The PA news agency understands no formal decision is likely on Palace's fate until the end of June. Textor has previously spoken of his frustration at how little influence his stake entitles him to, over football matters. Victory for Oliver Glasner's side over Manchester City in last month's FA Cup final gave them their first major trophy and with it a first crack at Europe. However, Nottingham Forest have since written to UEFA to challenge Palace's Europa League spot and in the hope of taking their place. Forest's owner Evangelos Marinakis, who also owns Greek side Olympiacos, placed his shares in the club in a blind trust before the governing body's March 1 deadline, anticipating Nuno Espirito Santo's side's European qualification. At present Forest, who finished seventh in last season's Premier League, are set to enter the Conference League but would take Palace's Europa League place, should they be deemed ineligible.
