March 24, 2017 / 7:30 AM / 6 months ago

British engineer Smiths posts higher H1 profit, reaffirms FY outlook

March 24 (Reuters) - British engineering firm Smiths Group stuck to its full-year outlook as growth in its detection unit, which makes security sensors, offset declines in other areas of its business and boosted first-half profit.

The diversified supplier of hospital equipment, industrial services and sensors to detect explosives, said headline operating profit rose 27 percent to 277 million pounds ($346 million) in the six months ended Jan. 31.

On an underlying basis, profit rose 8 percent.

Six-month headline revenue grew 18 percent to 1.62 billion pounds, Smiths said, adding that it was flat on an underlying basis, in-line with expectations.

“Overall, the outlook for 2017 is unchanged,” Chief Executive Andy Reynolds Smith said in a statement. ($1 = 0.8014 pounds) (Reporting by Esha Vaish in Bengaluru; Editing by Amrutha Gayathri)

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