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Prices & Quotes - UK Markets - Smith & Nephew (SN.)

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Share Price:
Down 1,545.50p
Change Today:
-0.50p
Market Cap:
13,586m
Sector:
Health Care Equipment & Services

Smith & Nephew sales improve in Q3, US business returns to growth

By Michele Maatouk

Date: Thursday 29 Oct 2020

LONDON (ShareCast) - (Sharecast News) - Smith & Nephew reported a "significant improvement" in trading in the third quarter on Thursday as global levels of elective surgeries continued to recover following the initial hit from the Covid-19 pandemic, while its US business returned to growth.
In the quarter to 26 September, revenue fell 3.7% on a reported basis to $1.2bn, and 4.2% on an underlying basis, recovering from the 29.3% underlying slump in the second quarter.

The medical equipment manufacturer said its US business returned to growth, with revenue there up 0.9% on an underlying basis, offset by a 6.2% decline from other established markets.

Emerging markets revenues fell 14.5%, with growth in China offset by weaker performances in Latin America and India due to the pandemic.

Chief executive officer Roland Diggelmann said: "I am pleased with our progress in the third quarter and how the business and our employees have responded to challenging circumstances. We were well prepared as global levels of elective surgery recovered and delivered a substantial improvement in performance over the previous quarter, led by growth in both the US and China, our two largest markets.

"At the same time we have continued our work to transform the group. We launched multiple new innovative products and announced an acquisition that will strengthen our position in the rapidly growing extremities segment."

Still, the company struck a cautious note over the outlook. S&N said that while it is encouraged by the improvement in Q3, full-year guidance remains withdrawn "as the nature and scope of any new restrictions to control Covid-19 through year end are not known".



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Smith & Nephew Market Data

Currency UK Pounds
Price 1,545.50p
Change Today -0.50p
52 Week High 1,674.00p
52 Week Low 1,336.50p
Volume 241,193
Shares Issued 879.10m
Market Cap 13,586m

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What The Brokers Say

Strong Buy 7
Buy 1
Neutral 6
Sell 0
Strong Sell 2
Total 16
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Smith & Nephew Dividends

  Latest Previous
  Final Interim
Ex-Div 01-Apr-21 01-Oct-20
Paid 12-May-21 28-Oct-20
Amount 23.10¢ 14.40¢

Trades for 14-Jun-2021

Time Volume / Share Price
13:35 0 @ 1,545.00p
13:35 265 @ 1,545.50p
13:35 45 @ 1,545.50p
13:34 80 @ 1,545.75p
13:34 105 @ 1,546.00p

Smith & Nephew Key Personnel

Chair Roberto Quarta
CEO Roland Diggelmann