LONDON (dpa-AFX) - Medical devices maker Smith & Nephew Plc (SN.L, SNN) posted a decline in profits for the first quarter, and said its outlook for the Group as a whole for 2013 remains unchanged.
The group's profit before tax slid to $204 million from last year's $231 million.
Attributable profit in the quarter totaled $143 million, lower than the $159 million reported in the year-ago quarter. Earnings per share declined to 15.7 cents from 17.7 cents, while adjusted earnings per share fell to 18.5 cents from 19.3 cents last year.
Trading profit was $241 million in the quarter, compared with $252 million a year ago.
For the first three months, revenues of $1.075 billion were almost on par with $1.079 billion recorded in the same quarter of last year. Revenues were up 1 percent on underlying basis, while it was down 1 percent, excluding Healthpoint.
Smith & Nephew said it is acquiring Adler Mediequip Private Limited, and with it the brands and assets of Sushrut Surgicals Private Limited. Adler Mediequip Private is a manufacturer and distributor of mid-tier, orthopaedic trauma products for the Indian market.
Copyright(c) 2013 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2013 AFX News
