Smith & Nephew PLC (LOBN:SN), the maker of hip and knee replacements and endoscopy instruments, reported an 11 percent year-on-year rise in trading profits for the full-year to US$969 million.
Revenue in the period to end-December 2010 was up 4 percent at US$3.96 billion, and the majority of its businesses outperformed their respective markets.
It is raising the final dividend by 10 percent to 9.82 cents a share.
The company also announced that chief executive Dave Illingworth has decided to retire from the company after nine years, four of which he spent as CEO. Olivier Bohuon will join the board on April 1 2011 and will be appointed chief executive on April 14.
He joins the company from Pierre Fabre, where he was CEO, having previously been the executive vice-president at Abbott Laboratories in charge of its pharmaceuticals division.
Smith & Nephew reports solid full-year results, names new CEO
Last updated: 04:26 10 Feb 2011 EST, First published: 05:26 10 Feb 2011 EST