Smiths’ bomb detection arm to set a record for products launch

Sales at Smiths Detection, which makes sensors used in finding explosives, weapons and drugs, fell 11 per cent to £220m in the six months to January 28, while profits came in at £20m.

It said military spending has been hit by government budget cuts in some of the world’s biggest economies. But a restructuring will increasingly bear fruit in the second half and it plans to launch a record number of products in the next 18 months, including a next generation explosives scanner for baggage in holds, which uses 3D technology.

Overall, the group, which employs 23,000 people across five divisions, 2,000 of whom are in the UK, recorded a 2 per cent rise in underlying profits to £217m, boosted by the strong performance of its oil and gas division. However, bottom-line profits fell 41 per cent to £111m after it was hit by restructuring and other charges.

Chief executive Philip Bowman said: “The group has made good progress despite the challenging environment.”