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Share Price:
Up 1,546.50p
Change Today:
6.50p
Market Cap:
13,595m
Sector:
Health Care Equipment & Services

Smith & Nephew reinstates guidance as Q1 revenues rise

By Frank Prenesti

Date: Thursday 29 Apr 2021

LONDON (ShareCast) - (Sharecast News) - Medical products supplier Smith & Nephew reinstated full year guidance after a rise in first quarter revenues driven by increased surgery volumes, acquisitions and new products.
Revenue for the three months to April 3 came in at $1.26bn, up 11.5% on a reported basis and 6.2% on an underlying basis and including a 3.4% boost from foreign exchange and 1.9% from acquisitions.

Smith & Nephew said it was now targeting underlying revenue growth in a range of 10% - 13.0% and trading profit margin of 18% - 19%

It warned that the guidance assumed improvement in conditions through the year, with surgery volumes largely unconstrained by Covid-19 in the second half.

"Our first priority for 2021 is to return to growth and recapture our pre-Covid momentum, and we are encouraged by our early progress through the first quarter," said chief executive Roland Diggelmann.

"This was driven not only by surgery volumes moving towards more normal levels in many markets, but also the benefits from better commercial execution, acquired assets, and recent product launches."

"Looking ahead, there is improving visibility as vaccine programmes roll out and healthcare systems reopen. Our approach through 2020 to maintain investment is already demonstrating value and I look forward to seeing further evidence of this as the recovery continues."

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Smith & Nephew Market Data

Currency UK Pounds
Price 1,546.50p
Change Today 6.50p
52 Week High 1,674.00p
52 Week Low 1,336.50p
Volume 419,107
Shares Issued 879.10m
Market Cap 13,595m

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What The Brokers Say

Strong Buy 7
Buy 1
Neutral 6
Sell 0
Strong Sell 2
Total 16
buy
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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 22-Jun-2021

Time Volume / Share Price
15:11 175 @ 1,546.50p
15:11 30 @ 1,547.00p
15:11 175 @ 1,547.00p
15:11 29 @ 1,547.00p
15:11 144 @ 1,547.00p

Smith & Nephew Key Personnel

Chair Roberto Quarta
CEO Roland Diggelmann