After a successful year in 1970, Smith & Nephew Associated Companies are showing every sign of continuing their performance in the current year, although margins are not as healthy as before. The most significant point is that impetus for continuing growth is coming from those parts of the company as it existed prior to the consolidation of the Gala Cosmetic Group. In 1970 group sales were up from £42·47 million to £56·14 million and pre‐tax profit, excluding income from associated companies, increased from £5·72 million to £6·61 million.
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