Smiths sees progress
Wednesday 16 May 2012
Sales of airport security scanners picked up in the last quarter, according to Smiths, after being hit by reduced spending during the recession. But the engineering group said its military and cargo sales were still under pressure.
The cost of restructuring the scanners' division hit profitability, but it is on track to bring in £40m a year of savings. Government austerity measures continue to hurt its sales of medical equipment.
Smiths said expectations for the year remained in line with its guidance at its first-half results.
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