Smith & Nephew still expects to report mid-teens percentage earnings growth this year, after the medical devices maker reported in-line secondquarter figures.
Full-year growth forecasts were maintained for its core orthopaedics unit, which accounts for almost 60 per cent of the company, and its keyhole surgeryendoscopy unit, the next largest business area in terms of profit.
However, full-year revenue guidance for its wound care business was trimmed by one percentage point to six per cent. Many analysts had expected the division to underperform this year.
In terms of second quarter figures, the company reported a 16 per cent rise in adjusted earnings of 5.83 pence per share, within the
5.66- 5.95 pence range expected by analysts.
In the three months ended July 2, group revenue rose 12 per cent to £351 million.
"Our revenue and earnings momentum continues to be driven by new product introductions and investment in our sales force," chief executive Sir Christopher O'Donnell said in a statement.
"This revenue momentum, and continued margin expansion, makes us well placed to achieve our underlying mid- teens EPSA growth goal for the full-year."
Orthopaedics strongly out-performed the market across its product areas, which the company expects to continue into the second half. Endoscopy performed in line with its expectations across the quarter, while Wound Management improved, S&N said.
