When adjusted for an additional day in the first quarter last year, Smith & Nephew’s underlying sales grew by 4.7% to $1.5bn.
All regions and divisions contributed positively although Orthopaedics growth was minimal reflecting a go-slow in US knee replacements ahead of a key product launch later this year.
Full year guidance of around 6% underlying sales growth and 8% for trading profit remains unchanged.
A $0.5bn buyback has been launched to complete within the next 12 months.
The shares were flat in early trading.
Our view
HL view to follow.
Smith & Nephew key facts
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This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
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