Smith and Nephew continues growth in third quarter of 2012

Smith and Nephew has recorded a positive business performance in the third quarter of 2012, despite challenging market conditions.

The medical technology firm's revenue total for the three-month period came to $952 million (595.12 million pounds), up by one percent on an underlying basis, while trading profit and earnings levels also experienced growth.

Its efforts to improve organisational efficiency have helped to offset the impact of ongoing economic difficulties in Europe, while its progress in emerging markets was said to be strong.

Meanwhile, Smith and Nephew's advanced wound management business grew at twice the overall market rate, giving the firm confidence that it will be able to continue to thrive.

Olivier Bohuon, chief executive officer of Smith and Nephew, said: "Smith and Nephew's strategic priorities are about making choices for the long-term benefit of our business, by allocating resources to the areas where we can achieve the greatest returns."

This comes after the firm also recently announced that Professor Genevieve Berger has left her position as a non-executive director in order to dedicate more time to her wider commitments.