Smith & Nephew Q4 Revenues Decline; Sees Stronger Revenue Growth In FY17

(RTTNews) - Smith & Nephew Plc. (SN.L, SNN), a medical technology company, Thursday said its fourth-quarter consolidated revenue totaled $1.22 billion, down 3 percent from last year's $1.26 billion. Revenue declined 1 percent on an underlying basis and includes the impact of four fewer selling days over the year-ago period.

Reported revenue for the quarter reflected effects of 3 percent adverse currency and 1 percent disposal headwinds.

Looking ahead to fiscal 2017, the company expects stronger revenue growth, with reported revenue increasing by 1.2 percent to 2.2 percent at prevailing exchange rates, and underlying revenue increasing by 3 percent to 4 percent. The company also expects an improvement in full-year trading profit margin in the 20 to 70 basis points range.

Smith & Nephew said it will recommend a final dividend of 18.5 cents per share, or 37 cents per ADS. This, together with the interim dividend of 12.3 cents per share or 24.6 cents per ADS, will give a full year distribution of 30.8 cents per share or 61.6 cents per ADS, flat year-on-year.