By Chris Bailey of Financial Orbit | Friday 25 March 2022
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Six months ago I observed that the British multinational diversified engineering business Smiths Group (SMIN) was worth sixteen to seventeen quid a share. The share price has risen about 10% since then, meaning a just shy of a fifteen quid share price this morning. After all its first half numbers showed a 3.4% rise in organic revenue growth and an 11.1% rise in operating profits given it saw “strong demand across most end markets”. And it also sold its Medical business in recent months too allowing it to focus on other parts of its business and buying back some shares too.
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