SNN - Smith & Nephew Non-GAAP EPS of $0.35 revenue of $2.73B
2023-08-03 08:26:03 ET
- Smith & Nephew press release ( NYSE: SNN ): 1H Non-GAAP EPS of $0.35.
- Revenue of $2.73B (+5.0% Y/Y).
- Our first half revenue was $2,734 million (H1 2022: $2,600 million), up 7.3% on an underlying basis and up 5.2% on a reported basis, including a translational foreign exchange headwind of -210bps.
- The first half comprised 127 trading days, in line with the equivalent period in 2022. The Group reported an operating profit of $275 million (H1 2022: $242 million) after acquisition and disposal related items, restructuring and rationalisation costs, amortisation and impairment of acquisition intangibles and legal and other items incurred in the first half.
- Trading profit was $417 million in the first half (H1 2022: $440 million), with a trading profit margin of 15.3% (H1 2022: 16.9%). The margin decline reflects persistent inflation, a transactional foreign exchange headwind and increased sales and marketing, partly offset by productivity improvements.
- Restructuring costs related to the efficiency and productivity work underway across the Group totalled $46 million
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Smith & Nephew Non-GAAP EPS of $0.35, revenue of $2.73B