Smiths Group medical unit hurt by EU medical devices regulation
Smiths, a provider of hospital equipment, industrial services and security sensors, said excluding the medical unit, which is its largest, full-year performance would be in line with expectations. The company said its second biggest division, John Crane, which serves oil majors BP and Chevron, and other units delivered a good performance. The company had been in the process of reorganizing John Crane by divesting struggling businesses with an exposure to oil prices, in an effort to boost margins.