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Smiths Group Issues Q1 Trading Statement; Restructuring Programme Progressing Well

Smiths Group plc (SMIN.L) reported that its revenue for the three months ended 31 October for continuing operations was down 2% on an underlying basis. Revenue for Smiths Medical1 was up 4% on an underlying basis. The Group is confident in meeting market expectations for the full year.

Smiths Group said its strategic restructuring programme is progressing well and will deliver the anticipated 30 million pounds of savings in the current year and the full 70 million pounds benefit in fiscal 2022.

The Group's cash balances at 31 October had increased to 413 million pounds.

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