Smith & Nephew Q1 Revenue Up 4.4% On Underlying Basis - Quick Facts

(RTTNews) - Medical technology business Smith & Nephew Plc (SN.L, SNN) reported Thursday that its first-quarter revenue was $1.202 billion, up from $1.196 billion in the prior-year period.

Revenue for the quarter rose 4.4 percent on an underlying basis, and 0.5 percent on a reported basis that included a negative 3.9 percent foreign exchange headwind.

Smith & Nephew noted that all three global franchises accelerated, delivering growth ahead of fiscal 2018 as the company started to benefit from its new commercial model. The company saw mid-teens growth from the Emerging Markets, led by a strong quarter in China.

Looking ahead to fiscal 2019, Smith & Nephew updated its outlook. The company said it is increasingly confident that underlying revenue growth will be in the upper half of the guidance range of 2.5 percent to 3.5 percent, while its expected trading profit margin remains unchanged in the range of 22.8 percent to 23.2 percent.