May 3, 2018 / 6:14 AM / a year ago

Smith & Nephew downgrades outlook after weak Q1

LONDON, May 3 (Reuters) - Smith & Nephew, Europe’s biggest artificial hip and knee maker, downgraded its forecast for full-year underlying revenue growth and profit margin after some markets softened and it saw a slowdown in its bioactives business in the first quarter.

It forecast underlying revenue for the year to rise by 2-3 percent, less than the 3-4 percent it predicted in February, while its trading profit margin would be at or above the level achieved last year rather than its previous target of growth of 30-70 basis points.

Reporting by Paul Sandle; editing by Kate Holton

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