FX.co ★ Smith & Nephew FY Trading Profit Rises; Revenue Up 7.2% On Underlying Basis

Smith & Nephew Plc, also known as SN.L and SNN, has reported a significant increase in their fiscal year profit before tax, which rose from $235 million to $290 million. Their earnings, measured per share in cents, also saw an improvement, scaling up from 25.5 to 30.1. Their trading profit ascended by 7.6%, reaching $970 million on a reported basis. The adjusted earnings per share also increased very slightly from 81.8 to 82.8 cents.

In the fiscal year ending on 31st December 2023, the company saw an increase in its total revenue, which reached $5.55 billion, reflecting a growth of 7.2% on an underlying basis. Their reported growth for the period also escalates by 6.4%.

As for the year 2024, Smith & Nephew Plc anticipates their underlying revenue to increase in the range of 5.0% to 6.0%. This suggests, on a reported basis, a growth margin in the expanse of approximately 4.6% to 5.6%. Simultaneously, they are looking forward to a profit margin of at least 18.0% from their trading. Furthermore, the company has reaffirmed its midterm goals.

The Board has also proposed a final dividend of 23.1 cents per share. After adding the interim dividend of 14.4 cents per share, the total distribution will be 37.5 cents per share, maintaining the same as that of 2022. This final dividend will be distributed to the registered shareholders at the closing of business on 2nd April 2024 and would be paid on 22nd May 2024.