Smith & Nephew third-quarter revenue up 2%

Medical devices group Smith & Nephew, which makes artificial hips and knees, posted a rise in third-quarter revenue thanks to solid performances in the sports medicine joint repair and knee implants divisions.

Third-quarter revenue was up 2% on an underlying basis and 1% on a reported basis to $1.11bn, with revenue growth of 1% in established markets and 2% in the US. Emerging Markets revenue grew 6% while China returned to growth.

In Sports Medicine Joint Repair revenue was up 8%, while the knee implants division saw revenue rise 4%.

Chief executive officer Olivier Bohuon said: "We are greatly encouraged by the positive customer reaction to recent product launches, such as new camera and Coblation systems in Sports Medicine and the extension of our Journey II Total Knee System.

“The expansion of our Navio robotics platform is progressing at pace and it promises to be another successful acquisition."

At 1120 BST, the shares were down 2.8% to 1,122p.