Smiths Group tops FTSE 100 after annual results

ICU Medical

28/09/2021 11:03

** Shares of British technology group  SMIN.L  up 3.8% at
1416p; stock is the top gainer on FTSE 100 index  .FTSE 
    ** Co says FY operating profit rose 7%; expects group
revenue growth to return to around pre-pandemic levels during
the year  urn:newsml:reuters.com:*:nRSb1392Na
    ** Co also enters deal to sell its medical devices unit,
Smiths Medical to ICU Medical  ICUI.O   urn:newsml:reuters.com:*:nRSb1408Na
    ** Co's annual headline operating profit rose 14%, on a
reported basis to 372 mln pounds, but revenue fell 6% on a
reported basis to 2.41 bln pounds    
    ** Says it is well positioned as markets recover, with good
order book momentum, despite economic uncertainty and supply
chain challenges
    ** J.P.Morgan says with the group returning to growth, the
Medical sale agreed, November CMD(Capital Markets Day) is a
well-timed catalyst, set to outline co's potential and future
strategic direction
    ** Stock down 9.3% this year as of last close

 (Reporting By Geetha Panchaksharam)
 ((geetha.panchaksharam@thomsonreuters.com))