By Carlo Martuscelli
Smith & Nephew PLC (SN.LN) said Thursday that pretax profit fell 11% in 2018 after booking restructuring costs, and despite revenue increasing.
The company said profit before tax fell to $781 million from $879 million in 2017, as revenue rose 2.9% to $4.9 billion. It attributed the decrease in profit to costs related to its accelerating performance and execution program, as well as acquisition- and disposal-related expenses.
In the year ahead, revenue is expected to grow between 2.5% and 3.5% on an underlying basis, the FTSE 100-listed medical-devices company said. Smith & Nephew sees its trading profit margin in the range of 22.8% to 23.2%.
The company declared a final dividend of 22 cents per share.