Smith & Nephew’s underlying revenue grew 3.5% in the quarter ending 29 June 2019, with emerging markets recording strong mid-teen growth. During the first half of FY 2019, the business’ trading profit margin improved 60bps to 21.4%, while the operating profit margin expanded 150bps to 16.8%. Cash generated from operations grew YoY to $543m from $418m over the same period.
China steered revenue growth in emerging markets, recording more than 30% growth. Factoring in its robust performance, the company upgraded its full-year revenue guidance by 50bps to 4%, but kept the trading profit margin guidance unchanged.
Namal Nawana, CEO of Smith & Nephew, said: “Organic revenue growth has been solid across all three franchises, with strong performance in Emerging Markets and global Sports Medicine. At the same time, we expanded our margin.”
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