Business
Smith & Nephew 2016 First Quarter Trading Report
Smith & Nephew 2016 First Quarter Trading Report.
About this update from Smith & Nephew Plc
[{"type":"text","content":"\n \nRNS Number : 2946X Smith & Nephew Plc 05 May 2016 \n\n \nSmith & Nephew 2016 First Quarter Trading Report \n4% underlying revenue growth delivered; full year guidance maintained\n \n5 May 2016\n \nSmith & Nephew plc (LSE:SN, NYSE:SNN) trading report for the first quarter ended 2 April 2016.\n \nHighlights\n· Revenue $1,137 million, up 4% on an underlying basis. Reported growth of 3% includes effects of -3% currency headwind and 2% benefit from acquisitions. Q1 2016 comprised 64 trading days (2015: 61 trading days)\n· Revenue growth of 6% in the Established Markets, with US up 8%\n· Emerging Markets declined -6%, with double-digit growth in most countries offset by continued weakness in China and significant slow-down in tendering and sales in oil-dependent Gulf states\n· Strong 11% revenue growth in Sports Medicine Joint Repair\n· Revenue up 9% in Knee Implants and up 4% in Hip Implants\n· Trauma & Extremities revenue down -7% as China and the Gulf states offset good US growth \n· Advanced Wound Management business flat, with 11% growth in Advanced Wound Devices offset by Advanced Wound Bioactives and Emerging Markets\n \nCommenting on Q1, Olivier Bohuon, Chief Executive Officer of Smith & Nephew, said:\n \n\"Many of the positive trends seen in the second half of 2015 continued to drive good performance in the first quarter of 2016. In particular, strong sales of the JOURNEY◊ II Knee System helped us deliver 9% growth in Knee Implants, and high demand for our shoulder repair portfolio underpinned 11% growth in Sports Medicine Joint Repair. \n \n\"Geographically, our Established Markets revenue growth of 6% reflects our success in the US, the Group's largest market, and the sustained improvements we have made in Europe. Good double-digit growth in most of our Emerging Markets businesses was overshadowed by China, as expected, and economic conditions in the Gulf region. \n \n\"The integration of Blue Belt Technologies, the robotics-assisted orthopaedic surgery business acquired at the start of the year, is going well. We are excited by the prospects for the existing partial knee reconstruction pl...