Smith and Nephew reports strong performance in Q1 2016

Smith and Nephew has announced its financial results for the first quarter of 2016, during which it maintained its strong momentum from the second half of last year.

The company generated a revenue total of $1.14 billion (790.88 million pounds) for the quarter, up by four percent year over year on an underlying basis. Strong demand for its Knee Journey II knee system drove growth in the knee implants sector, while the performance of its shoulder repair portfolio contributed to the success of its sports medicine joint repair portfolio.

Its performance in established markets was strong, particularly in the US, while double-digit growth was also seen in the majority of emerging markets. This helped to offset difficulties experienced in China and the Gulf states.

Additionally, the integration of Blue Belt Technologies, the robotics-assisted orthopaedic surgery business acquired at the start of the year, is proceeding according to plan.

Olivier Bohuon, chief executive officer of Smith and Nephew, said: "Overall, we continue to expect good underlying revenue growth in 2016 as we benefit from our investments in existing businesses, acquisitions and pioneering technologies."

Strong underlying revenue growth is expected for the remainder of the year, with the company's 2016 outlook remaining unchanged.