Smith & Nephew sees FY revenue at low end of guidance
Source - SMW
Smith & Nephew said it now expected its full-year revenue and margin performance to be at the lower end of previous guidance, amid a 3% rise in third-quarter revenue.
The medical equipment maker's revenue rose to $1.15b, largely thanks to 9% growth in emerging markets. Growth in established markets was lower, at 1%, with the U.S. up 2%.
"We expect underlying revenue growth for the full year to be at the lower end of our guided range of 3-4%," the company said.
"Accordingly, we expect trading profit margin improvement for the full year to also to be at the lower end of the guided range of 20-70bps."