Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSmith & Nephew Share News (SN.)

Share Price Information for Smith & Nephew (SN.)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 990.40
Bid: 994.40
Ask: 994.80
Change: 3.00 (0.30%)
Spread: 0.40 (0.04%)
Open: 984.20
High: 995.80
Low: 982.60
Prev. Close: 987.40
SN. Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Smith & Nephew revenue growth tops full-year forecasts

Tue, 27th Feb 2024 07:22

(Sharecast News) - Medical device giant Smith & Nephew reported fourth-quarter revenue of $1.46bn on Tuesday, marking a 6.4% increase on an underlying basis compared to the prior year.

The FTSE 100 company said that growth trend continued throughout the year, with full-year revenue hitting $5.56bn, up an underlying 7.2% and surpassing expectations.

Its orthopaedics segment saw 5.7% underlying growth, while the sports medicine and ENT division experienced 10% underlying growth, despite challenges posed by a sluggish Chinese market.

Advanced wound management maintained its momentum from the prior year, achieving 6.4% underlying revenue growth.

Smith & Nephew said its trading profit rose 7.6% on a reported basis to $970m, with a trading profit margin of 17.5%, in line with its guidance.

Operating profit for the year was reported at $425m, while the firm generated significant cash flow from operations of $829m.

Earnings per share reached 30.2 cents compared to 25.5 cents in the prior year, with the board declaring a full-year dividend of 37.5 cents per share, consistent with the dividend paid in 2022.

Looking ahead, Smith & Nephew said it was optimistic despite challenges such as continuing inflation and headwinds from China volume-based procurement within sports medicine joint repair.

The company said it expected positive operating leverage and benefits from its 12-point plan to offset those challenges.

For 2024, Smith & Nephew anticipated underlying revenue growth in the range of 5% to 6%, with a trading profit margin expected to be at least 18%.

The company's midterm targets remained unchanged.

"I am pleased with our overall performance in 2023, as our actions to transform Smith & Nephew have begun to translate into meaningful financial outcomes," said chief executive officer Deepak Nath.

"We delivered revenue growth ahead of guidance for the full year and made important improvements to our trading profit margin against a challenging macro-environment.

"Our 12-point plan is on track - while there is more to do to enhance our performance in US reconstruction, our orthopaedics business is progressing along a clear improvement path. 2023 was another year of good growth for our Sports medicine and ENT and advanced wound management businesses."

Nath said the company's investment in innovation was delivering, with almost half of its 2023 growth coming from products launched in the last five years.

"We were pleased to add major launches in robotics, shoulder arthroplasty and negative pressure wound therapy to the portfolio during the year.

"We have entered 2024 as a fundamentally stronger business and look forward to delivering another year of robust growth and further margin expansion."

At 0813 GMT, shares in Smith & Nephew were up 4.31% at 1,174p.

Reporting by Josh White for Sharecast.com.

More News
15 Feb 2022 16:19

UK earnings, trading statements calendar - next 7 days

Wednesday 16 February 
Coca-Cola Europacific Partners PLCFull Year Results
Indivior PLCFull Year Results
Kerry Group PLCFull Year Results
Ocean Outdoor LtdTrading Statement
Pan African Resources PLCHalf Year Results
Primary Health Properties PLCFull Year Results
Thursday 17 February 
Aveva Group PLCTrading Statement
MoneySupermarket.com PLCFull Year Results
Reckitt Benckiser Group PLCFull Year Results
Safestore Holdings PLCTrading Statement
South32 LtdHalf Year Results
Standard Chartered PLCFull Year Results
Yamana Gold IncFull Year Results
Friday 18 February  
NatWest Group PLCFull Year Results
Pod Point Group Holdings PLCFull Year Results
Segro PLCFull Year Results
TBC Bank Group PLCFull Year Results
Monday 21 February 
Bank of Cyprus Holdings PLCFull Year Results
Dechra Pharmaceuticals PLCHalf Year Results
Finsbury Food Group PLCHalf Year Results
Sylvania Platinum LtdHalf Year Results
Tristel PLCTrading Statement
Wilmington PLCHalf Year Results
Tuesday 22 February 
Antofagasta PLCFull Year Results
Bank of Georgia Group PLCFull Year Results
Benchmark Holdings PLCQ1 Results
Blancco Technology Group PLCHalf Year Results
Bluefield Solar Income Fund LtdHalf Year Results
Coca-Cola HBC AGFull Year Results
Hargreaves Lansdown PLCHalf Year Results
HSBC Holdings PLCFull Year Results (at 0400 GMT)
InterContinental Hotels Group PLCFull Year Results
Oxford Cannabinoid Technologies Holdings PLCHalf Year Results
Smith & Nephew PLCFull Year Results
Springfield Properties PLCHalf Year Results
Synectics PLCFull Year Results
Transense Technologies PLCHalf Year Results
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

Read more
10 Feb 2022 09:42

LONDON BROKER RATINGS: RBC raises B&M European Value to sector perform

LONDON BROKER RATINGS: RBC raises B&M European Value to sector perform

Read more
28 Jan 2022 09:59

LONDON BROKER RATINGS: Barclays lifts ITV and S4 Capital to Overweight

LONDON BROKER RATINGS: Barclays lifts ITV and S4 Capital to Overweight

Read more
19 Jan 2022 09:05

Smith & Nephew acquires US partial knee system company Engage Surgical

Smith & Nephew acquires US partial knee system company Engage Surgical

Read more
18 Jan 2022 09:44

LONDON BROKER RATINGS: Goldman Sachs raises BT to Conviction Buy

LONDON BROKER RATINGS: Goldman Sachs raises BT to Conviction Buy

Read more
17 Dec 2021 12:23

Berenberg slightly raises target price on Smith & Nephew

(Sharecast News) - Analysts at Berenberg raised their target price on medical services firm Smith & Nephew from £18.25 to £18.40 on Friday following the firm's "extensive meet-the-management event" a day earlier.

Read more
17 Dec 2021 09:37

LONDON BROKER RATINGS: Trio of cuts for boohoo; Liberum lifts Domino's

LONDON BROKER RATINGS: Trio of cuts for boohoo; Liberum lifts Domino's

Read more
16 Dec 2021 20:17

IN BRIEF: Smith & Nephew to return up to USD300 million to investors

IN BRIEF: Smith & Nephew to return up to USD300 million to investors

Read more
16 Dec 2021 12:28

Smith & Nephew to return up to $300m to shareholders in new strategy

(Sharecast News) - Medical device maker Smith & Nephew outlined its new 'strategy for growth' on Thursday, targeting consistent 4% to 6% organic revenue growth by 2024, "structurally ahead" of historic levels, as it made a new commitment to return up to $300m of capital to shareholders.

Read more
14 Dec 2021 14:47

Lloyds, Anglo American and slimmer Tate & Lyle set for strong 2022

Lloyds, Anglo American and slimmer Tate & Lyle set for strong 2022

Read more
5 Nov 2021 09:50

LONDON BROKER RATINGS: StanChart and Flutter upped to Buy; THG cut

LONDON BROKER RATINGS: StanChart and Flutter upped to Buy; THG cut

Read more
4 Nov 2021 12:19

LONDON MARKET MIDDAY: Pound drops, stocks rise after BoE holds rates

LONDON MARKET MIDDAY: Pound drops, stocks rise after BoE holds rates

Read more
4 Nov 2021 08:40

TOP NEWS: Smith & Nephew to hit low end of 2021 financial guidance

TOP NEWS: Smith & Nephew to hit low end of 2021 financial guidance

Read more
4 Nov 2021 07:48

LONDON MARKET PRE-OPEN: BT revenue slips but reinstates dividend

LONDON MARKET PRE-OPEN: BT revenue slips but reinstates dividend

Read more
4 Nov 2021 07:36

Smith & Nephew hit by Delta variant and shortages

(Sharecast News) - Smith & Nephew warned annual results would be at the low end of its guidance after Covid-19 and product shortages affected its orthopaedics business in the third quarter.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.