Smith+Nephew misses on profit as hospitals focus on critical care

Medical products maker Smith+Nephew on Wednesday posted a lower-than-expected first-half profit as patients and hospitals delayed elective surgeries to replace hip and knee joints during the coronavirus crisis to focus on critical care instead. Trading profit in the six months ended June 27 fell to $172 million from $532 million last year, while sales slumped 18.7% on an underlying basis, the British company said.

Analysts were expecting a first-half profit of $225 million on average, according to a company-compiled consensus http://www.smith-nephew.com/investor-centre/reporting/analyst-consensus of nine analysts.