Smith and Nephew reports underlying growth in Q1 2016

Smith and Nephew has announced its financial results for the first quarter of 2016, during which it generated a revenue total of $1.14 billion (784.9 million pounds).

This represented a four percent year-on-year increase on an underlying basis, with a reported growth figure of three percent modulated by a negative three percent currency headwind and a two percent benefit from acquisitions.

Revenue growth of six percent was seen in established markets, with the US performing particularly strongly. This helped to offset a decline in emerging markets due to weakness in China and oil-dependent Gulf states.

The integration of Blue Belt Technologies, acquired at the start of the year, is proceeding according to plan, while the firm's knee and hip implant offerings continued to perform well.

Strong underlying revenue growth is expected for the remainder of the year thanks to Smith and Nephew's investments in existing businesses, acquisitions and new technologies.

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."