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Abstract:(Reuters) – Smith+Nephew beat analysts‘ expectations for first-quarter sales on Thursday, helped by robust demand for the British company’s medical products and a rebound in elective surgeries that were delayed during the COVID-19 pandemic.
div classBodysc17zpet90 cdBBJodivpReuters – SmithNephew beat analysts‘ expectations for firstquarter sales on Thursday, helped by robust demand for the British company’s medical products and a rebound in elective surgeries that were delayed during the COVID19 pandemic.p
pThe health crisis had forced hospitals worldwide to delay elective surgeries to accommodate COVID19 patients, curtailing demand for the companys joint replacements, while supply chain issues also lingered amid the spread of the Omicron variant and its subvariants.pdivdivdiv classBodysc17zpet90 cdBBJodiv
pHowever, the Londonlisted firms revenue rose 5.9 to 1.31 billion on an underlying basis in the period ended April 2, above analysts expectation https:www.smithnephew.cominvestorcentrereportinganalystconsensussmithandnephew of a 2.8 rise to 1.27 billion at the median as some of its markets recovered from the pandemic. p
p“Our Q1 performance puts us on track to deliver our guidance for this year,” newly appointed Chief Executive Officer Deepak Nath said in a statement. “2022 marks an important steppingstone in our Strategy for growth.”p
pFounded in 1856, SmithNephew makes orthopaedic implants and prosthetics, along with wound dressings and other surgical technologies, which recorded strong performance in the quarter. p
pThe company has been improving its internal networks and moving logistics to a thirdparty provider to address supply snags, while targeting 2022 underlying revenue growth of 45.p
p
pp Reporting by Pushkala Aripaka in Bengaluru Editing by Subhranshu Sahup
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