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Smith & Nephew increases 2012 final dividend by 50%

Investment Tools Ltd.
Smith & Nephew increases 2012 final dividend by 50%

Financial Highlights

Good underlying growth in Q4 with revenue up 3% at $1,077m and trading profit up 2% at $272m

Strong Full Year - underlying growth in revenue up 2% to $4,137m and in trading profit up 6% to $965m

Full Year trading profit margin up 80bps to 23.3%, driven by actions to implement strategic priorities

Final Dividend up 50% to 16.2 cents per share, giving total 2012 dividends of 26.1 cents per share

Strategic Highlights 

Systemic efficiency programme progressing to plan, on track for $150m annual savings in 2014

Maintained high rate of product introductions

Emerging markets platform significantly strengthened

Bioventus transaction realised resources for investment in near-term opportunities

Healthpoint acquisition completed, giving strong position in fastest growing woundcare segment

Commenting, Olivier Bohuon, Chief Executive Officer of Smith & Nephew, said:

"Smith & Nephew finished the year strongly, with both underlying Q4 revenue and trading profit up on the prior year and the completion of the Healthpoint Biotherapeutics acquisition. Advanced Wound Management grew at well above the market rate and the Group delivered double digit growth in the emerging markets. It was also pleasing that our Trauma performance improved.

"There is no doubt that we are benefitting from implementing our Strategic Priorities. Our choices to invest in products and geographic areas of higher growth are enabling us to drive greater value from existing resources. Looking at the Full Year, we generated good revenue and profit growth and a healthy 80 basis points increase in trading profit margin. The acquisition of Healthpoint, a leader in the fastest growing area of advanced wound management, clearly demonstrates our delivery in action.

"Our confidence in continued strategic progress, coupled with our financial strength, is reflected in the significant 50% uplift in our 2012 dividends."

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