Smith & Nephew reports increased revenue in fourth-quarter, full-year 2022 results
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Smith & Nephew has announced its fourth-quarter and full-year 2022 financial results, according to a company press release.
The company reported increased revenue, operating profit and trading profit in 2022 compared with 2021, according to the release. The company also reported its strongest quarterly revenue growth of the year in the fourth quarter, with all franchises and geographies contributing to a revenue growth of 6.8% on an underlying basis.
“We made good progress during 2022 and ended the year in a stronger position than we started. We continued to outperform in sports medicine and [ear, nose and throat] and advanced wound management and, even though we are early in our work to fix orthopedics, performance improved here too,” Deepak Nath, CEO of Smith & Nephew, said in the release. “We will continue to face macroeconomic headwinds in 2023. However, I believe the drivers of further growth are in place, including leading technologies across all three franchises and a clear path to improved execution in orthopedics. We expect to deliver both faster revenue growth and margin expansion in the coming year and are setting a solid foundation for our midterm ambitions as we transform to a consistently higher growth company,” Nath added.
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