(Reuters) -UK’s Smiths Group on Wednesday upgraded its annual organic revenue growth outlook after the engineering firm posted a 15.8% rise in first-quarter revenue.
The company now expects full-year organic revenue growth of 5%-7%, up from its previous forecast of 4%-6%.
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 percentage 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)
(Reporting by Shanima A and Chandini Monnappa in Bengaluru; Editing by Subhranshu Sahu and Janane Venkatraman)
Comments