Good progress at Smith & Nephew
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Medical devices manufacturer Smith & Nephew today (5 August) reported good progress across the group, announcing enhanced sales and profits during the second quarter and first half of its financial year.
The global medical technology business reported half year revenues of $1.9bn (£1.2bn) up 6% on the same period last year while trading profit advanced 17% to $476m.
The company's orthopaedics business was showing "clear signs of progress" in the US trauma and European sectors and a strong emerging market performance, but this was offset by a "challenging" US reconstruction market.
Endoscopy achieved double digit growth in the Europe and rest of the world regions, while Advanced Wound Management continued delivering above market growth.
Chief executive David Illingworth, said: Chief executive David Illingworth, said the increase in revenues and profits indicated good progress across the group. "Our Endoscopy and Advanced Wound Management businesses continue to show strong underlying growth. Within Orthopaedics, our US trauma and European orthopaedic businesses are showing clear signs of progress.
"Our customers are facing short-term budgetary pressures and challenges and our strategy is to be 'part of the solution' to these issues by providing products which deliver clinical benefits to patients and cost benefits to healthcare providers. The long-term industry growth drivers - including demographics, emerging markets and patients' desire to return to an active life - remain intact."