Smith & Nephew PLC Sees Fall in 1st Half Pretax Profit
28 Juillet 2022 - 9:15AM
Dow Jones News
By Pierre Bertrand
Smith & Nephew PLC said Thursday that pretax profit fell in
the first six months of the year and backed its guidance for the
rest of 2022.
The U.K. medical-technology company said that pretax profit for
the first half of the year fell to $204 million on revenue that
marginally increased to $2.60 billion.
For the comparable period last year, the company reported pretax
profit of $223 million on revenue of $2.59 billion.
First-half trading profit--the company's preferred metric which
strips out exceptional and other one-off items--fell to $440
million from $459 million the year before.
The company said its performance was affected by higher input
inflation in freight and logistics.
Looking ahead, the FTSE 100 company said it now expects
full-year underlying revenue growth guidance of 4.0% to 5.0% and
said its trading profit margin is expected to be around 17.5%,
reflecting the impact of external supply challenges and
inflation.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
July 28, 2022 03:00 ET (07:00 GMT)
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