Delivering stronger underlying revenue growth, trading profit margin and adjusted earnings
Smith & Nephew plc (LSE:SN, NYSE:SNN) results for fourth quarter and full year to 31 December 2015:
| Trading | Reported | ||||||
| 31 Dec 2015 $m | 31 Dec 2014 $m | Under- lying growth % | 31 Dec2015 $m | 31 Dec 2014 $m | Reported growth % | ||
| Fourth Quarter Results | |||||||
| Revenue | 1,257 | 1,249 | 5 | 1,257 | 1,249 | 1 | |
| Full Year Results | |||||||
| Revenue | 4,634 | 4,617 | 4 | 4,634 | 4,617 | 0 | |
| Trading/operating profit | 1,099 | 1,055 | 628 | 749 | |||
| Trading/operating profit margin | 23.7% | 22.9% | 13.6% | 16.2% | |||
| EPSA/ EPS (cents) | 85.1 | 83.2 | 45.9 | 56.1 | |||
Fourth Quarter Highlightsi
• Revenue up 5% underlying. 1% reported growth after -6% FX and 2% acquisition impacts
• Established Markets revenue up 6%, our best quarterly performance since 2012
• Emerging Markets revenue growth of 2% with strong growth in most markets offset by China
• Sports Medicine Joint Repair revenue up 9%, driven by US and ArthroCare benefits
• Another strong performance in Knee Implants with revenue up 6%
• Advanced Wound Management businesses deliver 8% revenue growth, led by US performance
2015 Full Year Highlightsi
• Full year underlying revenue growth of 4%, twice that achieved in 2014. Reported growth flat after -8% FX and 4% acquisition impacts
• Trading profit margin up 80bps at 23.7%, reflecting Group Optimisation and ArthroCare synergies
• $203m accounting charge (before future insurance recovery) taken for metal-on-metal claims
• Proposed full year dividend distribution of 30.8¢ per share, up 4% year-on-year
For full access, please click here.
