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Smith & Nephew increases its 2018 interim dividend by 13.8%

Investment Tools Ltd.
Smith & Nephew increases its 2018 interim dividend by 13.8%

Smith & Nephew 2018 interim results

H1 reported revenue growth of 4%, including 3% FX tailwind, with underlying revenue up 1%

o Trading profit margin down 30bps, in line with guidance

o Operating profit margin down 240bps, reflecting $58 million costs of APEX programme

APEX programme on track, with actions undertaken in H1 which will deliver more than $50 million of annualised benefits

Trading cash flow of $387 million, up from $327 million in 2017, with higher trading profit to cash conversion ratio of 76% (2017: 66%)

Adjusted earnings per share (EPSA) up 2% to 43.7¢, reflecting improved trading (EPS 31.4¢; 2017 37.0¢)

Interim dividend of 14.0¢ per share, in-line with our progressive dividend policy (2017: 12.3¢)

Companies mentioned

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