Welcome to the new Independent website. We hope you enjoy it and we value your feedback. Please contact us here.

Business News

Smiths sees progress

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.