:UK’s Smiths Group on Wednesday upgraded its annual organic revenue growth outlook after the engineering firm posted a 15.8 per cent rise in first-quarter revenue.
The company now expects full-year organic revenue growth of 5 per cent-7 per cent, up from its previous forecast of 4 per cent-6 per cent.
Smiths Group, which serves across the aerospace, security, and energy sectors, said it expects an increase in operating profit margin by 0.40 to 0.60 per centage points in 2025.
The firm, known for its baggage-screening equipment and explosive detectors frequently found at airports, said it was resuming its share buyback programme.
The buyback amount will increase to 150 million pounds($191.03 million) from 100 million pounds, it said, after deciding not to pursue a potential acquisition it was considering.
($1 = 0.7852 pounds)
