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Smiths Group jumps after last year beats expectations and new year starts well

Shares in the engineer have remained roughly flat in the year to date so far, giving it a market cap of £5.5bn

Smiths Group PLC (LSE:SMIN) shares jumped 4% to 1,618p after the engineering group said its new year had "started well".

The FTSE 100-listed group added that it successfully mitigated inflation in line with expectations.

It said growth had "further accelerated" in the three months to the end of October, with organic revenue growth of 13.2%.

The positive start reinforces its confidence in full-year guidance of between 4% to 4.5% organic revenue growth, it said.

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