British engineering and technologies company Smiths Group released results for the first half of its financial year on 22 March and revealed plans to form a separate company from one of its business lines.
In a statement published alongside the company’s results, Smiths Group chief executive Andy Reynolds Smith said, “Today we have announced our plans for the separation of Smiths Medical to create two stronger companies each focusing on accelerating the execution of their plans and maximising the opportunities in their respective markets.”
The business unit, which produces devices delivering medical safety, critical care, and patient monitoring, posted a 12% decline in first half operating profit in the six months to January 31.
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