LONDON (dpa-AFX) - Engineering company Smiths Group Plc. (SMIN.L) Tuesday posted higher profit in its first six months, helped by improved revenues. The company reaffirmed its outlook for fiscal 2025 and also raised its interim dividend from last year.
The company posted pre-tax profit of 228 million pounds in the first six months of fiscal 2025, higher than 171 million pounds in the same period last year. Headline profit before tax rose to 256 million pounds from 228 million pounds a year ago.
Profit for the period surged 51.4 percent to 168 million pounds or 48.7 pence per share from 111 million pounds or 32.0 pence per share recorded in the first six months of last year. Headline profit was 191 million pounds, higher than 169 million pounds in the prior-year.
Total revenues for the period increased to 1.608 billion pounds from 1.507 billion pounds in the same period a year ago.
Looking ahead, the company reaffirmed its fiscal 2025 guidance of 6 to 8 percent organic revenue growth and margin expansion of 40-60 bps. The second half outlook is supported by good order book visibility.
The company said that its Board has declared an interim dividend of 14.23 pence, up 5 percent from last year's dividend of 13.55 pence. The interim dividend will be paid on May 14 to shareholders on the register at the close of business on April 4.
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