Smith & Nephew plc (LSE: SN, NYSE: SNN), the global medical technology business, announces its results for the second quarter ended 30 June 2012.
|
|
3 months to 30 June 2012 |
3 months to 2 July 2011 |
Underlying change |
|
6 months to 30 June 2012 |
6 months to 2 July 2011 |
Underlying change |
|
Revenue |
1,029 |
1,077 |
2 |
|
2,108 |
2,132 |
3 |
|
Trading profit |
234 |
236 |
6 |
|
486 |
477 |
6 |
|
Operating profit |
210 |
226 |
|
|
446 |
457 |
|
|
Trading profit margin (%) |
22.7 |
21.9 |
80bps |
|
23.0 |
22.4 |
60bps |
|
EPSA (cents) |
18.1 |
18.1 |
|
|
37.6 |
36.5 |
|
|
EPS (cents) |
32.7 |
17.2 |
|
|
50.7 |
34.7 |
|
|
Divisional revenue1 |
|
|
|
|
|
|
|
|
Advanced Surgical Devices global |
774 |
819 |
2 |
|
1,613 |
1,642 |
2 |
|
Advanced Wound Management global |
255 |
258 |
4 |
|
495 |
490 |
4 |
* Q2 2012 comprises 63 trading days (2011: 63 trading days). ** H1 2012 comprises 127 trading days (2011: 127 trading days)
Q2 Financial Highlights
- Revenue of $1,029 million, up 2% on an underlying basis
- Trading profit of $234 million, up 6% on an underlying basis
- Trading profit margin up 80 bps to 22.7% as ASD restructuring benefits come through
- Strong performance from Sports Medicine Joint Repair and NPWT
- EPSA consistent at 18.1 cents
- Group moves to net cash of $150 million
- Interim dividend increased 50% to 9.9¢ and new progressive dividend policy
Commenting, Olivier Bohuon, Chief Executive Officer of Smith & Nephew, said:
"Smith & Nephew completed a good first half as we continued to generate top-line growth and delivered an improved trading profit margin. This demonstrates the early benefits of our actions to reshape the Group to provide the right commercial models, innovation and efficiencies required to win in our markets today and in the future.
"We have consistently delivered revenue and earnings growth and strong cash generation in the challenging markets of the last few years. This financial strength, and our confidence in delivering against our Strategic Priorities, has enabled us to increase substantially our dividend pay-out, whilst keeping the flexibility to meet our organic and inorganic growth objectives."
