Smith and Nephew voices satisfaction with second quarter results

Smith and Nephew has reported strong financial results for the second quarter of 2011, including underlying year-on-year revenue growth of five percent.

The medical technology firm's reported revenue total came to $1.1 billion (662.8 million pounds) for the quarter, with the company outperforming the market in a number of areas, including orthopaedics.

Its endoscopy division saw a particularly strong performance in the US, while the advanced wound management business also generated encouraging results following the European launch of its next-generation negative pressure wound therapy.

This was achieved despite challenging and evolving industry conditions, according to Olivier Bohuon, the recently appointed chief executive officer of Smith and Nephew.

Mr Bouhon has been in the role for four months since the retirement of Dave Illingworth, stating that he has seen evidence of the company's "great foundation" in that time.

"We are working to make Smith and Nephew an even better company for our customers and patients, our employees and our wider stakeholders," he added.