Smith & Nephew Q1 Profit Up, Confident In 2014 Outlook - Quick Facts

(RTTNews) - UK-based Medical technology business Smith & Nephew Plc. (SN.L, SNN) said first-quarter profit before taxation improved to $221 million from $204 million in the prior year.

Attributable profit advanced to $150 million from $143 million. Earnings per share grew to 16.7 cents from 15.7 cents.

Revenues were $1.073 billion compared to $1.075 billion last year, and grew 1 percent on an underlying basis. There was a negative 1 percent currency headwind and a net zero effect from acquisitions and disposals.

Olivier Bohuon, CEO of Smith & Nephew, said, "Our underlying revenue growth was 1% in the first quarter. We remain confident in our 2014 outlook as we roll-out our strong pipeline of new products, benefit from recent investments in marketing and the salesforce and see an increasing contribution from acquisitions.'' No dividends were paid during the first quarter of 2014.