Smiths Group will remain listed on London's exchange

Smiths Group announced that it will remain listed on the London Stock Exchange, at least for the time being. The engineering company, known for making airport baggage-screening equipment and explosive detectors, is facing suggestions from a US investor to consider moving its listing to New York. CEO Roland Carter said while they are committed to London, they are keeping options open. “We never say never,” he stated. Smiths has been on the London Stock Exchange for over 110 years and aims to maintain its status as a FTSE 100 company. The London Stock Exchange has been struggling with fewer listings as some companies have chosen to relocate to other markets. Recent examples include Flutter, the owner of Betfair and Paddy Power, and building materials company CRH, both of which have moved to New York. Other companies, like Rio Tinto, are facing pressure to reconsider their listings. In its latest report, Smiths revealed a profit of £269 million for the six-month period ending in January, an increase from £246 million the previous year.