November 1, 2018 / 7:17 AM / 17 days ago

Smith & Nephew on track to meet guidance after Q3 revenue grows

LONDON, Nov 1 (Reuters) - British medical products maker Smith & Nephew said it was on track to meet full-year guidance after growing quarterly revenues by 3 percent, on strong demand for its artificial hips and knees in the United States and emerging markets.

The company forecast that for 2018 its underlying revenue would be in the lower half of the 2 percent to 3 percent range, but added that it expected its trading profit margin to be above last year’s thanks to improved cost controls and a favourable legal settlement.

Smith & Nephew posted third quarter revenue of $1.17 billion, up 3 percent on the same period last year on an underlying basis. (Reporting by Sarah Young; editing by Kate Holton)

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