Smith & Nephew Q3 sales boosted by US, emerging markets

1st Nov 2018 07:23

(Sharecast News) - Smith & Nephew posted a rise in third-quarter revenue on Thursday as it backed its full-year guidance.In the third quarter to 29 September, revenue was up 2% on a reported basis and 3% on an underlying basis to $1.17bn, with underlying revenue growth of 4% in the US and 10% in emerging markets, driven by strong growth in China.Revenue was down 1% across the group's other established markets, where Europe was soft as conditions in Germany and the UK remained "challenging".The company, which makes hip and knee replacement products, said it saw strong growth in reconstruction, sports medicine joint repair and advanced wound devices.Chief executive officer Namal Nawana said: "Improved underlying revenue growth in the third quarter was led by growth in the US and emerging markets. We are on-track to deliver our full year guidance."These results were achieved whilst successfully redesigning how we will run the company. There is still more to do, and I am pleased with the pace of progress and engagement across the organisation."Smith & Nephew said it doesn't reckon Brexit will have a significant impact on its long-term ability to conduct business into and out of the EU or UK."We are making good progress with our preparations for the various scenarios," it said.