Here is a summary of the key points from the trading statement released by Smiths Group PLC on November 13, 2024
Organic revenue growth of 15.8% was achieved in the first quarter of FY2025, with a strong performance across all businesses.
The Group has upgraded its full-year organic revenue growth guidance to 5-7%, up from the original 4-6% guidance, and expects a 40-60 basis point expansion in operating profit margin.
Strong demand and high single-digit organic revenue growth were seen in John Crane, while Smiths Detection delivered strong double-digit growth.
Flex-Tek posted low single-digit growth, with continued strength in aerospace and US construction.
Smiths Interconnect saw organic revenue growth of over 30% due to key program wins and semiconductor market recovery.
The Group has launched an Acceleration Plan to improve footprint and processes, with specific initiatives already underway across the businesses.
The share buyback program has been resumed and increased to £150 million, reflecting the strong balance sheet and cash flow dynamics.
Smiths will publish its HY2025 results on March 25, 2025.
Overall, Smiths Group PLC is reporting a strong start to FY2025, with upgraded guidance and a positive outlook for the full year. The Group is focused on innovation, execution, and profitable growth, and is returning excess capital to shareholders through its share buyback program.