After a few years of expensive restructuring, half-year results from medical devices giant Smith & Nephew (SN.) are reassuringly solid. Exclude currency headwinds and the impact of the disposal of its gynaecology unit last year, and revenue rose 3 per cent. Meanwhile, improving efficiencies helped enhance operating profit margins to 17.7 per cent, sending operating profits up 16 per cent to $414m (£316m).
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