Smith & Nephew ups divi as margins rise

City A.M. Reporter
SMITH & Nephew, Europe’s leading maker of artificial hips and knees, hiked its half-year dividend 50 per cent yesterday as profit margins grew and its confidence in the future improved, despite challenging markets.

The group, which also makes wound therapy products, said it generated broadly flat revenue of $1.03bn (£663m) from $1.08bn a year ago, generating trading profit of $234m versus $236m.

Analysts, on average, had expected revenue of $1.04bn, while the company-collated consensus for trading profit was $229m.