Smith & Nephew picks new chairman as wound care boosts sales

LONDON Thu Oct 31, 2013 7:13am EDT

LONDON Oct 31 (Reuters) - Strong sales of wound care products helped Smith & Nephew grow revenue by an underlying 5 percent in the third quarter, while sales of artificial hips and knees improved after recent slow growth.

The British company also appointed Roberto Quarta as a non-executive director and chairman elect.

Smith & Nephew has been trailing rivals like Johnson & Johnson, Zimmer and Stryker in orthopaedic reconstruction due to a relative lack of new products.

The group posted revenue of $1.03 billion and adjusted earnings per share (EPSA) of 17.1 cents on Thursday, while trading profit rose 10 percent to $222 million.

Analysts, on average, had forecast revenue of $1.02 billion and EPSA of 17 cents, according to Thomson Reuters.

Smith & Nephew maintained its outlook for the full year but said market conditions remained tough.

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