Smith & Nephew Q1 Results
Q1 Financial Highlights
· Revenue $1,079 million, up 3% on an underlying basis
· Trading profit was $252 million, up 5% on an underlying basis
· Trading profit margin of 23.3%, up 50 bps
· EPSA was up 6% to 19.5¢
· Net debt at $28 million, down from $351 million a year ago
· Strong revenue, profit and trading profit margin performance from both Advanced Surgical Devices and Advanced Wound Management
· Continued good growth in Knee Implants and momentum in Negative Pressure Wound
· Further progress delivering against each of our five strategic priorities
Commenting on Q1, Olivier Bohuon, Chief Executive Officer of Smith & Nephew, said:
"Smith & Nephew has had a good first quarter. We grew revenue, increased profit and improved our trading profit margin. We saw the first results of our actions to make Smith & Nephew more fit and effective.
"2012 is a critical year for implementing our new strategic priorities. Our plans to progress the structural changes, additional investments and, of course, greater efficiencies, are now underway. Throughout Smith & Nephew, at every level, there is a clear sense of direction, as we work to reshape the Group for future growth."