Profits rise as Smith & Nephew continues its focus on growth

Medical equipment manufacturer Smith & Nephew has reported a strong half-year performance.

The company, which has a base in Hull, saw pre-tax profits for the half-year period ending June 30 2019 rise to $383m, up from $341m for the same period last year. Its revenue remained at $2.4bn.

The listed company said its Q2 revenue was up 3.5% on an underlying basis and that reported growth was 3.1% despite the impact of a 2.9% currency headwind 

It reported strong growth in Emerging Markets, led by China, which was up more than 30%.

Namal Nawana, Chief Executive Officer, said: “The positive momentum across the business globally in the first half of 2019 has led us to upgrade our full year revenue growth guidance.

“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.

“We are delivering on our commitments to accelerate revenue growth, improve profitability and importantly make investments that support the long-term success of Smith+Nephew.”