Smith & Nephew reports fourth-quarter, full-year 2021 financial results
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Smith & Nephew reported increased revenue and operating profit for the full-year 2021, according to a press release.
The company reported a full-year revenue of $5.212 million, an increase of 14.3% on a reported basis compared with $4.560 million in 2020. Additionally, the company reported a 101% increase in operating profit, from $295 million in 2020 to $593 million in 2021.
Despite fewer trading days due the COVID-19 omicron variant, the company reported a 1.5% increase in fourth-quarter revenue, from $1.326 million in 2020 to $1.346 million in 2021.
“Looking to the future, we have set out our new strategy for growth with an ambition to transform to a structurally higher growth company, including clear medium-term revenue and trading profit margin targets,” Roland Diggelmann, CEO of Smith & Nephew, said in the release. “2022 will be an important step on this journey as we continue to strengthen the business and invest behind innovation, while working to offset near-term headwinds.”
On April 1, Deepak Nath, PhD, will succeed Diggelmann as the new CEO of Smith & Nephew, the company recently announced.
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