City briefs: Smith & Nephew; Severfield; and more
Hull-based medical equipment manufacturer, Smith & Nephew, has today reported that it expects a third quarter underlying revenue decline of approximately -4%.
In its latest trading update, the company says all three of its franchises showed significant recovery following an overall underlying revenue decline of -29.3% for the second quarter.
The improvement was strongest in its Orthopaedics franchise, as global levels of elective surgery continued to recover.
The update adds: “Monthly Group growth rates were broadly stable through the quarter, with some seasonality and monthly variation across both franchises and regions, reflecting the continuing impact of COVID-19.
“Throughout the year, we have been serving our customers, maintaining R&D, continuing with acquisitions, and launching new products, while managing our cost base and protecting employees and their jobs.
“Further detail of the quarter, including franchise and regional sales performance, will be provided with our third quarter trading report on 29 October 2020.”
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Thirsk-based structural steel group Severfield has announced the appointment of Alun Griffiths as its senior independent director (SID).
Griffiths is chairman of the remuneration committee and joined the Board in 2014.
Kevin Whiteman, chairman of Severfield said: “I am delighted that Alun Griffiths has agreed to become the senior independent director at Severfield.
“Our Board and other stakeholders will continue to benefit from Alun’s wide-ranging experience and insight.”
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Wetherby-based software firm Proactis has today confirmed that Sean McDonough, chief information officer, has resigned from the Board with immediate effect.
McDonough will remain employed by the company during his 12-month notice period.
Alan Aubrey, non-executive chairman, said: “On behalf of the board I would like to thank Sean for his valued contribution and service to the company over the past 15 years.
“We are grateful to him for the delivery of his personal succession plan, which allows the company to move forward with confidence. We wish him all the very best in the future.”
