Smith & Nephew announces third-quarter 2019 trading report
Smith & Nephew announced its 2019 third-quarter trading report, stating positive momentum across all three of their global franchises.
“We’re pleased to have delivered organic revenue growth of 4% in the third quarter, a further step towards growing at or above our markets,” Graham Baker, chief financial officer of Smith & Nephew, said in the release.
The third-quarter revenue had an increase of 4%, with orthopedics increasing by 3.4%, sports medicine and ear, nose and throat by 6.9% revenue growth and advanced wound management by 2.1%. Full-year guidance for 2019 estimated underlying revenue growth to be in the 3.5% to 4.5% range and trading profit margins to be around 22.8%.
“We’ve built momentum across the first 9 months of the year and, at the same time, continued to invest behind our commercial teams and acquisitions to support sustained success over the medium-term,” Baker said in the release. “As a result, we’re confident to increase 2019 revenue guidance again.”