Smith & Nephew, the Hull-based medical equipment maker, has reported a 3% rise in underling revenue growth in its full year results.
The company witnessed an improvement in performance for the year ended 31 December 2018 with revenue growth of 1% and 3% in H1 and H2 respectively.
“We accelerated performance across 2018, with 3% underlying revenue growth in both the third and fourth quarters and a 7% uplift in full year trading profit. We start 2019 with a strengthened organisation and a new growth-oriented operating model,” said CEO Namal Nawana.
A statement from the board said: “Our 2019 guidance for further improvement in underlying performance at the top and bottom line is an important step in realising our medium-term ambition to outgrow our markets.
“In terms of revenue, we expect our underlying growth to be in the range of 2.5% to 3.5% in 2019. On a reported basis this equates to a range of around 1.8% to 2.8% at exchange rates prevailing on 1 February 2019 and including the effect of the Ceterix acquisition.
“We expect 2019 trading profit margin to be in the range of 22.8% to 23.2%, a further 40-80bps improvement over 2018, excluding the one-off 50bps legal settlement benefit.”