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Finance

UK's Smiths Group beats annual profit estimates, starts process to offload asbestos liability

Published by Global Banking & Finance Review

Posted on September 22, 2026

1 min read

· Last updated: September 22, 2026

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Smiths Group Exceeds Annual Profit Estimates, Begins Asbestos Liability Sale

Smiths Group Reports Strong Financial Results and Strategic Moves

Full-Year Operating Profit Surpasses Expectations

Sept 22 (Reuters) - British engineering firm Smiths Group posted a better-than-expected full-year operating profit on Tuesday and launched a process to sell its US asbestos liability, as the 175-year-old company completed a sweeping portfolio overhaul that netted more than £3 billion ($4.01 billion).   

Currency Exchange Rate Information

($1 = 0.7478 pounds)

Reporting and Editorial Credits

(Reporting by Yamini Kalia in Bengaluru; Editing by Rashmi Aich)

Key Takeaways

  • Headline operating profit rose to £580 m (FY ending 31 July 2025), beating consensus of around £573 m, boosted notably by strong demand for screening and detection equipment (tradingview.com).
  • Smiths has launched the sale process for its U.S. asbestos liability associated with John Crane, which had provisions of £191 m in FY 2025 as it navigates long-running mesothelioma litigation (lse.co.uk).
  • The group’s strategic overhaul—selling Smiths Detection and Smiths Interconnect—generated over £3 bn in enterprise value, positioning Smiths as a leaner industrial engineering business rewarding shareholders though continued buybacks (www-live.smiths.com).

References

Frequently Asked Questions

What financial milestone did Smiths Group achieve this year?
Smiths Group posted a better-than-expected full-year operating profit.
What strategic action has Smiths Group started relating to asbestos liability?
Smiths Group has launched a process to sell its US asbestos liability.
How much did Smiths Group net from its portfolio overhaul?
Smiths Group completed a portfolio overhaul that netted more than £3 billion.
What is the exchange rate mentioned in the article?
The article notes that $1 equals 0.7478 pounds.

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