LONDON (dpa-AFX) - Smiths Group plc (SMIN.L) issued trading statement for the first quarter to 1 November 2024. Organic revenue growth was 15.8% for the three months to 1 November 2024. The Group noted that its first quarter this year benefited from three extra trading days and adjusting for this, organic revenue growth on a comparable basis was 13.1%.
The Group now xpects full-year organic revenue growth of 5-7%, upgraded from the original 4-6% guidance. The Group now expects a 40-60 basis point expansion in operating profit margin in fiscal 2025, on a good trajectory towards its medium-term margin target.
The Group said it is resuming share buyback by initiating the second tranche of its previously announced programme, and is increasing the total amount of the programme from 100 million pounds to 150 million pounds.
Smiths will publish results for the six months ending 31 January 2025 on 25 March 2025.
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