Smith & Nephew share price: Company releases Q1 results
Medical equipment manufacturing company Smith & Nephew (LON:SN) today published its first-quarter trading report.
**Highlights from the company’s statement**
Revenue $1,104 million, up 3% on an underlying basis. Reported growth of 3% includes effects of -8% currency headwind offset by 8% benefit from acquisitions; Strong 9% revenue growth in Sports Medicine Joint Repair, particularly in the US, reflects the continued strengthening of our franchise following the acquisition of ArthroCare; JOURNEY◊ II Total Knee System continues to perform very well, driving 3% US Knee Implant revenue growth; Advanced Wound Care revenue performance improving, up 9%; Continued momentum in Emerging Markets with 22% revenue growth. Latin American presence further strengthened with distributor acquisition in Colombia
Commenting on Q1, Olivier Bohuon, Chief Executive Officer of Smith & Nephew, said: “We are pleased with our start to 2015 and are on track to make further progress during the year. In particular, we increased Q1 revenue by 22% across the Emerging Markets and delivered 9% growth in Sports Medicine Joint Repair. We completed the integration of ArthroCare and the expected benefits of our strong combined sports medicine portfolio are starting to come through. In Reconstruction, strong sales of our JOURNEY II Knee System drove 3% growth in US Knee Implants, and, through our actions, we delivered an improved Advanced Wound Care performance.”
As of 07:22 BST, Thursday, 30 April, Smith & Nephew plc share price is 1,149.50p.