Smiths Group flying high

A focus on fast-growing engineering and technology sectors helped Smiths Group to another strong set of financial figures.

Boosted by a recovery in its commercial aviation activities, the engineering group increased sales and profits in each of its four divisions — aerospace, detection systems, medical and speciality engineering — during the six months to January. Total group sales rose six per cent to £1.34bn, yielding a 16 per cent increase in pre-tax profits to £155m.

While there was good news across the group, Smiths was particularly upbeat over the prospects for its aerospace division. Smiths Aerospace has a foothold in many of the world’s biggest projects, including the Airbus A380, the Boeing 787 Dreamliner, the Joint Strike Fighter and the US101 Presidential helicopter fleet.

A recovery in the commercial aviation sector helped push up the division’s sales by 17 per cent and profits by almost a quarter. ‘Smiths Aerospace has entered a period of strong growth which is likely to be sustained for a number of years,’ the group told its shareholders.