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Home Industry News Smith and Nephew reports first-quarter 2013 growth

Smith and Nephew reports first-quarter 2013 growth

2nd May 2013

Smith and Nephew has reported its financial results for the first quarter of 2013, during which the company achieved year-on-year business growth.

The firm's revenue total for the quarter came to $1.08 billion (695.98 million pounds), up by one percent on an underlying basis, while its trading profit level of $241 million and margin of 22.4 percent were in line with expectations.

During the three-month period, Smith and Nephew saw a strong performance from its advanced wound management and Healthpoint Biotherapeutics divisions, while its trauma portfolio within its advanced surgical devices unit also achieved good results.

In addition, the company announced a new capital allocation framework, confirming its commitment to further investment and acquisitions.

Olivier Bohuon, chief executive officer of Smith and Nephew, said: "We will continue to invest in our growth products, franchises and geographies and maintain adequate headroom for further significant acquisitions."

In March, the firm attended the annual meeting of the American Academy of Orthopaedic Surgeons, where it showcased new products such as the Redapt Hip Revision System and Journey II BCS Knee.ADNFCR-8000103-ID-801580760-ADNFCR

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