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Stock impact report

Hip replacement firm Smith & Nephew's profit surges amid recovery in US sales [Yahoo! Finance]

Smith & Nephew SNATS, Inc. (SNN) 
Last smith & nephew snats, inc. earnings: 8/1 04:05 pm Check Earnings Report
US:NYSE Investor Relations: smithoptics.com
Company Research Source: Yahoo! Finance
The medical technology giant, which is listed on the FTSE 100, has been in the midst of a turnaround effort, and recently faced calls from its biggest investors to break the company up. Late last year, its top 20 shareholders demanded that bosses consider spinning off the company's orthopaedics business, which makes replacement hip and knee joints. That came after a profit warning in October, when bosses complained of poor sales in China, which had resulted in the company's distributors sitting on unusually high levels of unsold products. But chief executive Deepak Nath said on Tuesday the company is now making more cash despite “significant sector-wide headwinds”. He said this was partly down to “leverage and productivity improvements” across the business, while the company has also been more disciplined on spending. Shares in the group jumped 9% on Tuesday morning. Since the profit warning, revenues for the final three months of 2024 jumped 7.8%, helping push Smith & Ne Show less Read more
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