LONDON (dpa-AFX) - Smiths Group plc (SMIN.L) Wednesday said strong revenue growth continues in the second quarter, after recording first-quarter organic revenue growth of 13.2 percent.
The company now expects to deliver low double-digit organic revenue growth for the first half, driven by a combination of volume growth and price increases to offset cost inflation. The company also raised fiscal 2023 guidance.
In its pre-close trading update for the six months ending January 31, the company noted that growth continues across all businesses, even as uncertainty remains high, and supply chain impacts persist.
Reflecting current momentum, Smiths now expect organic revenue growth for the full year to be at least 7 percent, with moderate margin improvement.
Smiths previously expected fiscal 2023 organic revenue growth view of 4 percent to 4.5 percent.
Smiths will publish its results for the six months on March 24.
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