Steady Growth At Smith & Nephew
UK-based health care group Smith & Nephew said that it maintained underlying sales growth in 1995 of 8% in much tougher market conditions, particularly in North America. Turnover for the year was just over L1 billion ($1.6 billion), up 6.3%. Pretax profits were L176.8 million, compared with a loss of 35.5 million in 1994. Operating profits for the year were L170.4 million, up 18.2%. Earnings per share were 10.29 pence, compared with a loss per share in 1994 of 4.96 pence.
UK sales growth was up to 12% in 1995 from 5% in 1994. The establishment of a single sales force for health care products was said to have brought substantial rewards. Meantime, S&N said that the North American health care market is still undergoing significant changes.
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