Smith & Nephew: Exorbitant NWC Requirements To Maintain Competitive Position (NYSE:SNN)

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Investment summary

After a brief snapback rally from FY’22 into FY’23, Smith & Nephew plc (NYSE:SNN) has sold off sharply following its Q2 numbers. The market was unequivocal in its appraisal of the company, with the post-earnings drift now sending

McKinsey (2023)

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