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Smith & Nephew submits its fourth-quarter and full-year 2018 financial results
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Smith & Nephew recently reported revenue growth of 0.1% in the first quarter of 2018 and 0.3% in the second quarter of that year, according to a company press release. In addition, there was an increase in reconstruction and emerging markets with China’s growth in the double-digits.
The underlying revenue for 2018 went up 0.2% and the trading profit margin also increased to 22.9%. The overall operating profit margin reflects the restructuring costs of $120 million with $60 million in cost benefits, according to the release. The full year for 2018 divided up 0.3% to $0.36 per share.
“We accelerated performance across 2018, with 3% underlying revenue growth in both the third and fourth quarters and a 7% uplift in full-year trading profit,” Namal Nawana, CEO of Smith & Nephew, said in the release. “We start 2019 with a strengthened organization and a new growth-oriented operating model."
At the beginning of 2019, a new operating model was completed and led by the Smith & Nephew leadership team and five new strategic imperatives were established to drive value creation over the medium term, according to the release. For 2019, revenue is expected to increase 2.5% to 3.5% with the trading profit margin expected to range from 22.8% to 23.2%, according to the release.
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