Smith & Nephew expecting a Q4 underlying revenue decline of approximately -7%

Smith & Nephew plc

Smith & Nephew plc (LON:SN), the global medical technology business, has announced that it expects a fourth quarter underlying1 revenue decline of approximately -7%. Sales were impacted by increased rates of COVID-19 infection from mid-October onwards, particularly in the US and Europe where more procedures were postponed following the reintroduction of restrictions.

As in previous months, the impact was most pronounced on our Orthopaedic Reconstruction, Sports Medicine and ENT businesses, driven by lower levels of elective surgery. Our Advanced Wound Management and Trauma businesses remained more resilient.

Full year underlying revenue is expected to have declined approximately
-12%. As previously stated, the trading profit margin will be substantially down year-on-year, with negative operating leverage due to lower volumes partially offset by cost control measures.

Throughout 2020 we continued to serve customers, develop and launch new products and make acquisitions, whilst prioritising the health and wellbeing of employees.

Further detail of the trading performance, including franchise and regional sales performance, trading profit margin, and a review of our strategic progress in 2020, will be provided with Smith & Nephew’s fourth quarter and full year results, scheduled for 18 February 2021.

Share on:

Latest Company News

TEAM plc to Acquire WH Ireland in £12.7m All-Share Deal

TEAM plc has proposed a recommended takeover of WH Ireland Group plc through a scheme of arrangement. Under the terms, WH Ireland shareholders will receive new TEAM shares, creating a combined wealth and asset management group headquartered in Jersey.

FTSE 100 Drops in Afternoon Trading as Energy Price Spike and Risk-Off Sentiment Weigh on Markets

FTSE 100 falls in Friday afternoon trading as rising oil prices and geopolitical tensions drag banks and travel stocks lower.

Cameco locks in long-term uranium supply agreement with India

A major uranium producer has secured a multi-billion-dollar long-term supply contract with India as nuclear demand grows.

Unlocking liquidity without disrupting investment strategy

Investment-backed lending allows investors to access liquidity by borrowing against their portfolios, helping maintain long-term investment exposure while meeting near-term financial needs.

How balloon payment structures shape asset finance decisions

Balloon payment finance allows businesses to lower monthly repayments by deferring part of the loan balance to a final payment at the end of the agreement.

Finseta partners with Swoop to support SME funding

Finseta has partnered with Swoop Funding to connect SME financing access with international payment and FX services within a single financial ecosystem.

    Search