Smith & Nephew predicts growth levels of 14-16%

Smith & Nephew has reported another healthy set of results, which justify chief executive, Chris O'Donnells' prediction that the company is on target to generate underlying sales growth of between 14% and 16% in 2003. The end-of-year results released last month showed this underlying growth stood at 13% in 2001. And this has translated into a 15% increase in EPS for the company, which has now successfully transformed itself into a focused med-tech. O'Donnell's plan was to streamline the company into its three profitable cores at the expense of the less profitable divisions. These three...