Smiths Group sales surpass £3bn thanks to energy efficiency demand
- The engineering firm revealed a record 11.6% uptick in headline organic sales
- Growth was observed across all the group’s end markets, particularly in energy
Smiths Group achieved a remarkable performance last year, with turnover surpassing £3 billion and operating profit more than tripling.
The engineering firm reported a record 11.6% increase in headline organic sales for the 12 months ending July, benefiting from £146 million in positive foreign exchange fluctuations.
While growth was seen across all end markets, the energy market performed exceptionally well, driven by high demand for energy efficiency and emissions reduction products from its John Crane business.
Secure results: Smiths Group was aided by continued solid demand for airport baggage scanners, with sales of its CTIX machines surpassing over 1,000 during the period
The company secured contracts for compressor seals with a European customer and a major offshore carbon capture and storage facility in Malaysia.
Smiths also experienced strong demand for airport baggage scanners, with sales of its CTIX machines exceeding 1,000 during the period.Follow Google News
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