Smith & Nephew 1Q Revenue Rose; Backs 2022 Guidance
28 Avril 2022 - 9:05AM
Dow Jones News
By Anthony O. Goriainoff
Smith & Nephew PLC said Thursday that revenue in the first
quarter rose 3.3% on a reported basis, and backed its guidance for
the year.
The London-listed medical-technology company said that for the
quarter ended April 2 revenue rose to $1.31 billion compared with
$1.26 billion for the first quarter of 2021.
The company said that established markets underlying revenue was
up 4.1% as elective surgery volumes recovered from the impact of
the Omicron coronavirus variant at the start of the quarter.
Emerging markets underlying revenue rose to 14% with
double-digit growth across India, the Middle East and Africa, and
Latin America.
The FTSE 100 company said that it was focused on its strategy
for growth, and that this included work on productivity and
commercial execution.
Last December, Smith & Nephew set a target for 4%-6% organic
revenue growth a year through to 2024 and for an operating margin
of 21%.
It also said at the time that the board plans to buy back
between $250 million and $300 million of shares this year.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
April 28, 2022 02:50 ET (06:50 GMT)
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