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

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Share Price:
Up 1,583.00p
Change Today:
16.00p
Market Cap:
13,915m
Sector:
Health Care Equipment & Services

Smith & Nephew says Covid impact to remain in H1 as profits fall

By Frank Prenesti

Date: Thursday 18 Feb 2021

LONDON (ShareCast) - (Sharecast News) - Medical products business Smith & Nephew warned the Covid-19 pandemic impact was likely to continue into the first half of 2021 with uncertainty on the timing of recovery, as it reported a sharp fall in full-year profit.
Group trading profit fell 42% to $683m, reflecting as the pandemic forced the cancellation of elective procedures, lower gross margins resulting from factory underutilisation and an increase in provisions.

Revenue for the 12 months to December 31 declined 11.2% to $4.56bn. The board declared a final dividend of 23.1 cents a share for a an unchanged total of 37.5 cents.

"The impact of Covid-19 is likely to continue during the first half of 2021, and while there is still uncertainty on the timing of recovery, we have maintained our readiness and ability to respond," the company said.

"In terms of revenue, we expect to deliver substantial underlying growth in 2021 compared to 2020. Within this, we expect our hip implants business to continue to outperform knee implants, our sports medicine & ear nose and throat franchise to perform strongly as markets recover, and for advanced wound management's growth trajectory to improve as recent commercial changes continue to deliver benefits."



In terms of profit margin, we expect an improved performance in 2021 over the prior year. Relative to 2019 (the year before COVID-19), we anticipate a headwind from the continuing impact of reduced production volumes on gross margin as well as dilution of around 100bps from the increased investment in R&D and around 150bps from the acquisitions completed in 2020 and so far in 2021. Foreign exchange will be an additional headwind of around 100bps.

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Smith & Nephew Market Data

Currency UK Pounds
Price 1,583.00p
Change Today 16.00p
52 Week High 1,736.00p
52 Week Low 1,336.50p
Volume 1,556,212
Shares Issued 879.04m
Market Cap 13,915m
Beta 0.00

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What The Brokers Say

Strong Buy 6
Buy 1
Neutral 7
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 07-May-2021

Time Volume / Share Price
16:45 2,686 @ 1,581.00p
16:45 2,686 @ 1,581.00p
16:35 601,859 @ 1,583.00p
16:29 531 @ 1,581.00p
16:29 263 @ 1,581.00p

Smith & Nephew Key Personnel

Chair Roberto Quarta
CEO Roland Diggelmann