StockMarketWire.com - Smith & Nephew said it was 'increasingly confident' that underlying revenue growth would be in the upper half of the guidance range after all three of its global franchises delivered improved organic growth in the first quarter.

The company expected underlying revenue growth would be in the upper half of the guidance range of 2.5% to 3.5%; while trading profit margin expectations were unchanged in the range of 22.8% to 23.2%.

First-quarter revenue rose 4.4% to US$1.202bn on an underlying basis from US$1.196bn a year earlier, with reported growth of 0.5% after a 3.9% foreign exchange headwind.

'It's been a good start to 2019 across the whole of Smith & Nephew,' said Namal Nawana, Chief Executive Officer.

'All three global franchises delivered improved organic growth as we continued to improve execution; important confirmation that each has the potential to perform sustainably at or above their markets.'

'At the same time, we've made well-judged acquisitions that bring in new technologies to strengthen leadership positions across the business, which we expect to further accelerate growth over time.'

'While recognising that further work remains to achieve the full potential of our portfolio, we are encouraged with our progress towards sustainably delivering above-market growth.'



At 9:37am: [LON:SNN] Sanne Group Plc share price was -0.5p at 633.5p



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