Smith & Nephew picks new chairman as wound care boosts sales
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.