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Smiths Group profits warning

MEDICAL and security equipment firm Smiths Group has warned its full-year profits will be £25 million lower at its detection unit - which makes sensors to detect explosives, narcotics and other harmful substances.

This includes a £12m charge related to a review of its working capital requirements, a £9m hit from lower volumes and lower margin work and £4m of additional contract-related costs. The medical business was said to have returned to growth in the quarter to April 30.

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