Smith & Nephew plc (LSE: SN, NYSE: SNN) results for Q4 and Full Year ended 31 December 2014.
Fourth quarter highlights1
• Revenue grew 2% underlying and 6% reported to $1,249 million
• Strong trading profit growth, up 7% underlying and 12% reported to $325 million
• 130bps year-on-year increase in trading profit margin, EPSA 25.6¢, up 9%
• Trading cash flow of $366 million, a cash conversion ratio of 113%
• Sustained improvement in US Reconstruction
• Continued higher growth from Emerging & International Markets
Full year highlights1
• Revenue grew 2% underlying and 6% reported to $4,617 million
• Trading profit up 3% underlying and 7% reported to $1,055 million
• Improved year-on-year trading profit margin, up 20bps to 22.9%, EPSA 83.2¢, up 8%
• ArthroCare Corporation acquisition completed for $1.7 billion, reinforcing Sports Medicine
• Proposed Final Dividend of 18.6¢, Full Year distribution of 29.6¢ per share, up 8% year-on-year
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