Smith and Nephew reports growth in third quarter of 2014

Smith and Nephew has announced its financial results for the third quarter of 2014, during which it recorded a revenue total of $1.15 billion (719.89 million pounds).

This represented a three percent year-on-year increase on an underlying basis and 12 percent on a reported basis, with trading profit also rising by three percent. It saw an enhanced performance in its sports medicine and trauma and extremities businesses, driven by recent product introductions and investment in the sales force.

Meanwhile, its emerging markets business increased its revenue by 20 percent, while its group optimisation efforts, tax improvement and the recent takeover of ArthroCare also contributed to this enhanced performance.

Olivier Bohuon, chief executive officer of Smith and Nephew, said: "We are delivering on our strategy to rebalance Smith and Nephew by strengthening our higher-growth platforms, which currently represent more than half the business, up from just 35 percent three years ago."

The firm also announced last week that it has appointed Vinita Bali as a non-executive director, effective as of December 1st 2014.