Smith & Nephew picks new chairman as wound care boosts sales

Reuters

LONDON, Oct 31 (Reuters) - Strong sales of wound careproducts helped Smith & Nephew grow revenue by anunderlying 5 percent in the third quarter, while sales ofartificial hips and knees improved after recent slow growth.

The British company also appointed Roberto Quarta as anon-executive director and chairman elect.

Smith & Nephew has been trailing rivals like Johnson &Johnson, Zimmer and Stryker inorthopaedic reconstruction due to a relative lack of newproducts.

The group posted revenue of $1.03 billion and adjustedearnings per share (EPSA) of 17.1 cents on Thursday, whiletrading profit rose 10 percent to $222 million.

Analysts, on average, had forecast revenue of $1.02 billionand EPSA of 17 cents, according to Thomson Reuters.

Smith & Nephew maintained its outlook for the full year butsaid market conditions remained tough.

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