Smith & Nephew submits its fourth-quarter and full-year 2019 financial results
Smith & Nephew recently reported revenue growth of 4.4% for the full-year 2019, according to a company press release. The year included five acquisitions in higher-growth segments and the acquisition of Tusker Medical in January 2020.
“The improved underlying revenue growth of 4.4% in 2019, the best for several years, has propelled group sales above $5 billion for the first time in Smith & Nephew’s history,” Roland Diggelmann, CEO of Smith & Nephew, said in the release. “All franchises and regions meaningfully contributed to this record.”
The underlying revenue for 2019 went up 2.4%, and the trading profit margin remained the same at 22.8% compared to 22.9% in 2018. The overall operating profit margin of 15.9% reflected restructuring and acquisition costs, according to the release.
“For 2020, our focus is on sustaining the positive momentum and our strategic imperatives remain the right path to value creation” Diggelmann said. “Within these, we will focus on delivering a consistent and excellent customer experience, maximizing the impact from our increased investment in innovation, and continuing to improve our operational agility and efficiency.”
Assuming the COVID-19 outbreak normalizes early in the second quarter of 2020, underlying revenue growth is expected to be 3.5% to 4.5%, with the trading profit expected to be at or slightly above the 22.8% achieved in 2019, according to the release.
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