Q3 Financial Highlights
- Revenue of $952 million, up 1% on an underlying basis
- Trading profit of $207 million, up 10% on an underlying basis
- Trading profit margin up 190 bps to 21.7% as efficiency benefits come through
- Continued strong performance from Advanced Wound Management and Sports Medicine Joint Repair
- EPSA at 16.6 cents, up 2%
- Sustained strong cash generation with net cash now $379 million
Commenting, Olivier Bohuon, Chief Executive Officer of Smith & Nephew, said:
"I am pleased to report an underlying 10% increase in trading profit for the quarter to $207 million. The benefits of our efficiency improvements have helped to offset the impact of on-going tough conditions in Europe, and we continued to make good commercial progress in the emerging markets. Our Advanced Wound Management business continued to thrive, growing at twice the market rate.
"Smith & Nephew's strategic priorities are about making choices for the long term benefit of our business, by allocating resources to the areas where we can achieve the greatest returns. I am confident that by following this strategy we are shaping the Group to respond to the market conditions and opportunities we face."
