Smith & Nephew reports revenue growth in fourth-quarter, full-year 2023 financial results
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Key takeaways:
- Smith & Nephew reported underlying revenue growth for the fourth quarter and full year of 2023.
- The company also reported an increased trading profit margin.
Smith & Nephew has reported underlying revenue growth in its fourth-quarter and full-year 2023 financial results, according to a company press release.
Smith & Nephew reported $1.458 billion in revenue for the fourth quarter of 2023, a 6.4% increase in underlying revenue compared with the prior year period. The company also reported $5.549 billion in revenue for the full year of 2023, a 7.2% increase on an underlying basis from 2022. In addition, the company reported a trading profit margin of 17.5% for 2023, an increase from 17.3% in 2022.
“I am pleased with our overall performance in 2023, as our actions to transform Smith & Nephew have begun to translate into meaningful financial outcomes. 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,” Deepak Nath, CEO of Smith & Nephew said in the release. “We have entered 2024 as a fundamentally stronger business and look forward to delivering another year of robust growth and further margin expansion,” Nath added.
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