Smith and Nephew announces third quarter results

Smith & Nephew has announced its third quarter financial results, showing continued revenue growth and margin improvement.

The global medical technology business reported $845 million (407 million pounds) in revenue, a ten per cent increase in underlying growth compared to the same quarter last year.

Its orthopaedic reconstruction unit had delivered above market global growth driven largely by hip revenues which saw an 11 per cent underlying increase.

Both its orthopaedic trauma and endoscopy areas also performed well, with endoscopy generating strong growth led by revenues outside the US which grew by 17 per cent.

David Illingworth, chief executive of Smith & Nephew, stated that despite market pressures in some areas, third quarter results continued to deliver good revenue growth across the business as a result of its innovative product portfolio.

“Our focus on the high growth segments in our markets is bearing fruit and generating profitable growth,” he confirmed.

In particular, Mr Illingworth was pleased with the company’s Earnings Improvements Programme which was bringing margin improvement.

Earlier this month, the Advanced Wound Management division of Smith & Nephew won the Manufacturer of the Year 2007 award.