SNN - Smith & Nephew FY21 revenue rises 14% Y/Y;

Smith & Nephew press release (NYSE:SNN): FY Adjusted EPS $0.809 (+25% Y/Y); ($1.618 per ADS) Revenue of $5.21B (+14.3% Y/Y) misses by $10M. Operating profit $593M (+101% Y/Y). Trading profit $936M (+37% Y/Y) Outlook: For  2022 the company is targeting underlying revenue growth in the range 4.0% to 5.0% (around 2.6% to 3.6% reported basis). The Consensus Revenue Estimate for 2022 is $5.52B. The company expects growth to be stronger in the second half than the first half of 2022. For trading profit margin the company is targeting around 50bps of expansion in 2022, reflecting efficiencies from operating leverage, productivity and improvement in the margin of acquired assets partially offset by headwinds of around 125bps from input cost inflation and around 60bps from implementation of volume-based procurement in China. The company added that through its strategy for growth it is targeting consistent 4% to 6% underlying revenue growth by 2024, structurally ahead of historical levels, and a trading

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Smith & Nephew FY21 revenue rises 14% Y/Y;