Share Prices & Company Research

Market News

04 Nov 2021 | 07:36

Smith & Nephew hit by Delta variant and shortages

(Sharecast News) - Smith & Nephew warned annual results would be at the low end of its guidance after Covid-19 and product shortages affected its orthopaedics business in the third quarter.

Revenue rose 5.5%, or 2.3% on an underlying basis, to $1.27bn in the three months to 2 October, the medical technology group said in a trading update.

Underlying revenue at the orthopaedics division, Smith & Nephew's biggest business, fell 5.9% as the Delta variant reduced elective surgeries such as knee and hip implants in the US and a products shortage restricted sales in other markets where operations were resuming.

The FTSE 250 group said annual results would be at the low end of previous guidance for revenue growth of 10-13% and trading profit margin of 18-19%. Smith & Nephew said it would bring its orthopaedics and sports medicine franchises under one leadership team.

"Performance in orthopaedics was held back by the consequences of the Delta variant on elective surgeries, notably in the US, as well as the previously noted near-term supply constraints in some product lines," the company said.
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 17th May 2022
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.