Oil firms boost Smiths sales

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The Independent Online

Smiths, whose products range from bomb detectors to medical devices and fuel hoses, reported higher sales and profits in the quarter to the end of October, helped by strong demand from the oil and gas industry.

The group said underlying sales and headline profits rose on increased volumes at its John Crane unit, which makes mechanical seals for the oil and gas industry and accounts for 30 per cent of sales.