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May 2, 2019, 3:02 a.m. EDT

Smith & Nephew guides higher on earnings

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By Carlo Martuscelli

Smith & Nephew PLC (SN.LN) is more confident of delivering full-year results in the top half of its guidance range after all three of its franchises posted organic growth in the first quarter, the U.K. medical equipment company said Thursday.

The company has guided for underlying revenue growth of 2.5% to 3.5% for 2019. The outlook for its trading profit margin remains at between 22.8% and 23.2%, it said.

First-quarter revenue totaled $1.20 billion, up 4.4% on an underlying basis. Currency headwinds meant that reported revenue growth was at 0.5%.

London-listed Smith & Nephew said emerging markets delivered growth in the mid-teens, buoyed by a positive performance in China.

Namal Nawana, chief executive of the FTSE 100-listed company, called it a good start to the year, and that he expects growth to accelerate further.

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