Smith and Nephew delivers strong results in third quarter of 2013

Smith and Nephew has expressed satisfaction with the strong financial performance it delivered in the third quarter of 2013, in the face of challenging trading conditions.

The company's revenue total for the quarter came to $1.03 billion (646.9 million pounds), up by five percent on an underlying basis, while its trading profit came to $222 million – a year-on-year increase of ten percent.

During the quarter, the firm experienced an improved performance for its hip and knee implants business and continued strong growth from its advanced wound management and sports medicine joint repair franchises, while its emerging and international sales also rose.

For the year to date, Smith and Nephew's revenues now stand at $3.18 billion, up by three percent on the corresponding period of last year.

Olivier Bohuon, chief executive officer of Smith and Nephew, said: "Our markets remain tough, but through implementing our strategic priorities we are meeting these challenges, investing where we see the greatest opportunities for growth and successfully reshaping the group for long-term success."

This comes after the firm announced the launch of a new grant scheme with the American Academy of Foot and Ankle Osteosynthesis earlier this week.