Smiths Medical reports increased sales

Smiths Medical has reported increased sales of 737 million pounds in its preliminary results for 2006 – an increase of 31 per cent on 2005’s figures.

The UK-based company pointed to the increased use of single-use devices, while its temperature probe product range doubled in size.

Additionally, spending on research and development more than trebled, from seven million pounds to 25 million, with the Advantiv safety catheter and Needle-Pro Edge hypodermic being designed in response to the awareness of needle-stick injuries.

Keith Butler-Wheelhouse, chief executive of the Smiths Group, stated: “Once again, Smiths has achieved double-digit sales growth while improving the profit margin.”

He added that the company had built a “strong” operating cashflow despite “substantial” investment in new product development and manufacturing.

Among the new medical products launched by Smiths Medical this year are the Sure-Pro and Sure-Pro Ultra advanced embryo replacement catheters, the Portex adjustable flange tracheostomy tube and the Sodasorb LF carbon dioxide absorbent, used for anaesthetic purposes.

The interim results confirm the outlook given during August that the company would sustain its pace of growth through 2006.