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Highlights

  • Smith & Nephew’s revenue grew 4.7% to USD 2,961.0 million, driven by new product launches
  • Gross profit rose 5.9% to USD 2,091.0 million, aided by a favourable product mix
  • Net profit climbed 36.9% to USD 293.0 million, supported by lower restructuring costs

Smith & Nephew PLC (LSE: SN.) is an FTSE 100 global medical technology firm, focused on developing, manufacturing, and commercializing advanced medical devices for soft and hard tissue repair, regeneration, and replacement. 

In the first half of FY25, SN reported revenue of USD 2,961.0 million, up 4.7% from USD 2,827.0 million in H1FY24, supported by an accelerated pace of product innovation and successful new launches. Gross profit rose 5.9% year over year to USD 2,091.0 million, benefiting from higher revenue and a favorable product mix. Profit for the year surged 36.9% to USD 293.0 million compared with USD 214.0 million in the prior period, aided by lower restructuring expenses and reduced net finance costs.

Business Update

On 10 July, 2025, Griffin Mining issued its Q2 FY25 trading update, reporting a strong recovery at the Caijiaying Mine following earlier disruptions. The mine processed 347,508 tonnes of ore during the quarter, achieving record production levels for both gold at 6,270 ounces and silver at 119,602 ounces. Elevated precious metal prices contributed to roughly half of the company’s revenues. Additionally, development of Zone II remains on track, with production expected to commence in Q4 2025.

Outlook

Smith & Nephew PLC has reaffirmed its full-year 2025 guidance, expecting underlying revenue growth of about 5% and a trading profit margin in the range of 19.0% to 20.0%. The outlook includes an anticipated net financial impact of USD 15–20 million from tariffs. Management noted that performance in the second half of the year should be supported by easing headwinds in China and ongoing operational savings, with further margin expansion expected beyond 2025.

Top 10 Shareholders

The top 10 shareholders of SN collectively own around 37.15% of the company’s shares, with the largest stakes held by Cevian Capital at approximately 8.59% and BlackRock Investment Management (UK) Ltd. at about 6.68%.

Stock Information

As of the closing price of 12 September 2025(GBX 1367.00), over the past three months, the stock has gained approximately 27.28%, and over the six-month period, 24.55%. The stock has a 52-week low of GBX 911.00 and a 52-week high of GBX 1,441.500 and is currently trading below the average of this range.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels Is 18 September 2025. The reference data in this report has been partly sourced from EODHD/Others.

Technical Indicators Defined

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Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.