Smith+Nephew Issues Trading Update - Quick Facts

(RTTNews) - Smith+Nephew (SN.L, SNN) said it expects a fourth quarter underlying revenue decline of approximately 7%. The Group said its sales were impacted by increased rates of COVID-19 infection from mid-October onwards, particularly in the US and Europe.

Smith+Nephew expects full year underlying revenue to have declined approximately 12%. The trading profit margin will be substantially down year-on-year, with negative operating leverage due to lower volumes partially offset by cost control measures.

The Group will provide further detail of the trading performance with its fourth quarter and full year results, scheduled for 18 February 2021.