Smith & Nephew FY Trading Profit Rises; Revenue Up 7.2% On Underlying Basis

(RTTNews) - Smith & Nephew Plc (SN.L, SNN) reported that its fiscal year profit before tax increased to $290 million from $235 million, last year. Earnings per share, in cents, was 30.1 compared to 25.5. Trading profit was up 7.6% on a reported basis to $970 million. Adjusted earnings per share, in cents, was 82.8 compared to 81.8.

For the year ended 31 December 2023, revenue was $5.55 billion, up 7.2% on an underlying basis. Reported growth was 6.4%, for the period.

For 2024, the company expects underlying revenue growth in the range of 5.0% to 6.0%. On a reported basis, the guidance equates to a range of around 4.6% to 5.6%. The company expects to deliver a trading profit margin of at least 18.0%. Also, Smith & Nephew reconfirmed its midterm targets.

The Board recommended a final dividend of 23.1 cents per share. Together with the interim dividend of 14.4 cents per share, this will give a total distribution of 37.5 cents per share, unchanged from 2022. The final dividend will be paid on 22 May 2024 to shareholders on the register at the close of business on 2 April 2024.

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