Smith & Nephew Q3 Revenues Up 1% - Quick Facts

(RTTNews) - Smith & Nephew Plc. (SN.L, SNN), a medical technology company, Thursday said its third-quarter consolidated revenue totaled $1.12 billion, up 1 percent from last year's $1.11 billion. Revenue grew 2 percent on an underlying basis.

Reported revenue reflected the effect of 1 percent adverse impact from acquisitions/disposals.

According to the company, Emerging Markets revenue growth was 6 percent, as China returned to growth.

Looking ahead, the company said it expects second-half trading profit margin to exceed that delivered in the first half, as usual, although held back by negative operational gearing reflecting sales growth levels.

During the third quarter, the company reached agreement with the IRS on a US tax issue. As a result, the company expects a one-off benefit from a tax provision release and, hence, its tax rate on trading results for the full year 2016 to be around 24.5 percent.