Smiths Group lifts guidance after strong Q3

19th May 2023 07:02

(Sharecast News) - Smiths Group lifted revenue guidance after a strong third quarter, driven by volume and price growth.

Organic revenue was up 13.4% for the nine months to April 30, leading Smiths to increase 2023 guidance to around 10% organic revenue growth with "moderate" margin improvement.

"The third quarter performance was driven by both good volume and price growth, with strong demand in most of the group's end markets. We continue to invest in working capital to ensure we meet this strong customer demand," the company said on Friday.