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Trading statements

Smith & Nephew says start-2017 trading in line

05 May 2017 07:19

Smith & Nephew said its Q1 2017 trading was in line with its expectations, and that it was on track to deliver 3-4% underlying revenue growth for the FY.

CEO Olivier Bohuon said that in particular the company's performance in the Emerging Markets was good, returning to double-digit growth, with China up 14% underlying.

"Our innovative new products, such as the Lens camera and Werewolf Coblation systems, have been well received, and we look forward to the imminent full market release of the Total Knee Application on our Navio robotics-assisted surgery system," said Bohuon.

"Over the last few years we have successfully put in place the right structures and capabilities to make the Group stronger, simpler, more agile and efficient.

"We continue to focus on execution and expect to see progress through the year."

Meantime, for Q1, revenue of $1.142bn was flat on a reported basis after -2% impact from Gynaecology disposal and -1% currency headwind. It was up 3% on an underlying basis.

"Smith & Nephew is on-track to deliver 3-4% underlying revenue growth for full year," it said.

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