Security scanners used to monitor holidaymakers’ luggage at airports such as Gatwick have given the group a lift Hannah McKay / ReutersThe engineering and technology conglomerate Smiths Group has reported a 17 per cent rise in full-year profit helped by growth in its detection business, which makes equipment that scans for weapons, explosives and drugs. Headline pre-tax profits rose to £528 million in the year to the end of July, up from £451 million the previous year, on revenue up 11 per cent to £3.28 billion. Profits beat analysts forecasts of £522 million but revenues were slightly lower than the £3.3 billion expected. Andy Reynolds Smith, chief executive, said: “The progress delivered in executing our strategy ensures that we are well positioned for the group to return to growth in 2018.”He said that growth across the portfolio had been offset by challenging markets in the…

Source: The Times September 22, 2017 08:03 UTC