FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of
1934
May 3, 2007
Commission File Number 001-14978
SMITH & NEPHEW plc
(Registrant's name)
15 Adam Street
London, England WC2N 6LA
(Address of registrant's principal executive offices)
[Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.]
Form 20-F X Form 40-F
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[Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(1).]
Yes No X
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[Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(7).]
Yes No X
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[Indicate by check mark whether by furnishing the information contained
in this Form, the registrant is also thereby furnishing information to the
Commission pursuant to Rule 12g3-2 (b) under the Securities Exchange Act of
1934.]
Yes No X
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If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2 (b) : 82- n/a.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Smith & Nephew plc
(Registrant)
Date: May 3, 2007
By: /s/ Paul Chambers
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Paul Chambers
Company Secretary
AGM Chairmans comments
3 May 2007
Smith & Nephew plc (LSE: SN, NYSE: SNN), the global medical technology business,
conducted its Annual General Meeting today.
John Buchanan, Chairman, commenting on the results for 2006 said
"2006 was a good year for Smith & Nephew, despite challenging markets. Overall
our revenues grew by an underlying 8 % and our adjusted attributable profits by
7 %. The growth of our four businesses is driven by demographic changes and we
were particularly pleased with the out-turn for the year and the return of
market conditions to the long-term growth trend implied by the ageing
population.
Since I took over as Chairman a year ago I have become increasingly confident in
the powerful long term growth characteristics of the medical devices sector and
our position within it.
Underlying demographic changes continue to drive the growth of the overall
market in all four of our business areas. At the same time the demand from
active, informed patients for high quality medical devices further expands the
demands for our products.
We have leading edge products and the competitive ability to develop attractive
new products in the sector. Our quality distribution channels allow us to meet
market demands and continue to increase our market share.
These factors are expected to enable us to continue long-term generation of
profitable revenue growth. In addition, the Earnings Improvement Programme
announced today will add margin improvements over the next few years.
I believe our shareholders can share the Board's confidence in the company's
ability to generate long term value into the future."
The full text of this speech is available on the Smith & Nephew website at
www.smith-nephew.com.
Enquiries
Liz Hewitt Tel: +44 (0) 20 7401 7646
Smith & Nephew
Group Director Corporate Affairs
Financial Dynamics
David Yates - London Tel: +44 (0) 20 7831 3113
Jonathan Birt - New York Tel: +1 212 850 5634
About Smith & Nephew
Smith & Nephew is a global medical technology business, specialising in
Orthopaedic Reconstruction, Orthopaedic Trauma and Clinical Therapies, Endoscopy
and Advanced Wound Management products. Smith & Nephew is a global leader in
arthroscopy and advanced wound management and is one of the leading global
orthopaedics companies.
Smith & Nephew is dedicated to helping improve people's lives. The Company
prides itself on the strength of its relationships with its surgeons and
professional healthcare customers, with whom its name is synonymous with high
standards of performance, innovation and trust. The Company has 8,800 employees
and operates in 31 countries around the world generating annual sales
approaching $2.8 billion.
Forward-Looking Statements
This press release contains certain "forward-looking statements" within the
meaning of the US Private Securities Litigation Reform Act of 1995. In
particular, statements regarding expected revenue growth and trading margins
discussed under "Outlook" are forward-looking statements as are discussions of
our product pipeline. These statements, as well as the phrases "aim", "plan",
"intend", "anticipate", "well-placed", "believe", "estimate", "expect",
"target", "consider" and similar expressions, are generally intended to identify
forward-looking statements. Such forward-looking statements involve known and
unknown risks, uncertainties and other important factors (including, but not
limited to, the outcome of litigation, claims and regulatory approvals) that
could cause the actual results, performance or achievements of Smith & Nephew,
or industry results, to differ materially from any future results, performance
or achievements expressed or implied by such forward-looking statements. Please
refer to the documents that Smith & Nephew has filed with the U.S. Securities
and Exchange Commission under the U.S. Securities Exchange Act of 1934, as
amended, including Smith & Nephew's most recent annual report on Form 20F, for a
discussion of certain of these factors.
All forward-looking statements in this press release are based on information
available to Smith & Nephew as of the date hereof. All written or oral
forward-looking statements attributable to Smith & Nephew or any person acting
on behalf of Smith & Nephew are expressly qualified in their entirety by the
foregoing. Smith & Nephew does not undertake any obligation to update or revise
any forward-looking statement contained herein to reflect any change in Smith &
Nephew's expectation with regard thereto or any change in events, conditions or
circumstances on which any such statement is based.