Smith & Nephew PLC on Wednesday backed its full-year outlook after growth in its Orthopaedics and Sports Medicine divisions offset weakness in Advanced Wound Management.
Shares in Smith & Nephew rose.
Smith+Nephew plc (LON:SN, NYSE:SNN) reports Q1 revenue of $1,386 million, up 2.9% underlying. Orthopaedics and Sports Medicine show strong growth. CEO confident in outlook.
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· Full Year revenue $4,560 million, down -11.2% reported and -12.1% underlying · Trading profit margin 15.0% reflected lower gross margins, negative leverage from SG&A costs and increased R&D investment · Operating profit margin of 6.5% included restructuring costs related to efficiency programmes · Cash generated from operations $972 million (2019: $1,370 million), trading cash flow $690 million (2019: $970 million), trading profit to cash conversion ratio 101% (2019: 83%) · Increased R&D investment, with recent product launches performing well · Delivered acquisitions in extremities, ENT and ASC segments, securing new innovation to support sustainable growth · Full Year 2020 dividend distribution of 37.5¢ per share, unchanged from 2019, reflecting confidence in the business and strength of the balance sheet