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Smith & Nephew’s earnings tumble on virus impact

Elective surgeries have picked up again, but near-term prospects remain unclear
Smith & Nephew’s earnings tumble on virus impact

As had been forewarned, the Covid-19 pandemic dealt Smith & Nephew (SN) a major blow during the first half. But, in the event, the medical technology giant’s operating margin was still weaker than analysts had expected – coming in at just 8 per cent, below consensus estimates of 11 per cent.

IC TIP: Hold at 1566p

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