Smith & Nephew Warns of Revenue, Margin Hit for 2020
January 11 2021 - 1:51AM
Dow Jones News
By Sabela Ojea
Smith & Nephew PLC said Monday that underlying revenue fell
7% in the fourth quarter of the year and it expects a steeper
decline in full-year revenue.
The FTSE 100-listed medical-technology said underlying revenue
for 2020 is anticipated to fall by 12% compared with the prior
year, adding that its trading profit margin will be significantly
hit on a year-on-year basis.
The company also said that sales were negatively affected by
increased rates of Covid-19 from mid-October onwards, particularly
in the U.S. and Europe, where more procedures were postponed due to
the reintroduction of restrictions.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
January 11, 2021 02:36 ET (07:36 GMT)
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