Smith and Nephew announces full-year results

Smith & Nephew has announced its financial results for the year ended 31st December 2006, reporting an eight per cent increase in group revenue to $2.8 billion (1.43 billion pounds).

The company reported a ten per cent increase in trading profit, reaching $571 million, with actual earnings per share rising by seven per cent to $0.452.

Smith & Nephew reported a ten per cent increase in revenue in its orthopaedic reconstruction business, with its sales in orthopaedic trauma and clinical therapies division rising by 13 per cent.

Revenues in endoscopy rose by nine per cent, while sales in advanced wound management rose by one per cent.

Sir Christopher O’Donnell, chief executive of Smith & Nephew, said: “All of our businesses have performed well in the fourth quarter and we closed the year strongly.”

He added that the growth of the company was being driven by new products, such as those in the orthopaedic reconstruction business, which enable the company to outperform the rest of the market.

Last month, Smith & Nephew announced a sales, marketing and distribution agreement between its advanced wound management division and Mylan Laboratories subsidiary UDL Laboratories for the distribution of Biobrane biosynthetic wound dressing outside the US.