Detection Is the Star of a Rather Unimpressive Revenue Performance in First-Half Fiscal 2017
Except for its security screening equipment, or Detection, business, Smiths Group got off to a rocky first half of the year in terms of demand, with flat revenue year over year. Â Group profitability improved as a result of cost-cutting measures, with a 130-basis-point improvement in operating margins to 17.1%, resulting in an 8% increase in normalised EBIT. We are not changing our fair value estimate, as we expect growth in Detection to continue delivering in the second half and for demand to pi...Smiths Group is a global technology company. Co. is organized into five divisions: John Crane, which provides mechanical seals, seal support systems, engineered bearings and power transmission couplings; Smiths Medical, which provides infusion systems and vascular access products; Smiths Detection, which provides sensors and systems that detect and identify explosives narcotics, weapons, chemical agents, biohazards and contraband; Smiths Interconnect, which provides electronic and radio frequency board-level and waveguide devices; and Flex-Tek, which provides engineered components flexible hosing and tubing that heat and move fluids and gases.
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