LONDON (dpa-AFX) - Smith & Nephew Plc (SNN), a medical equipment manufacturing company, on Wednesday reported higher revenue for the first quarter, in line with its expectations.
Revenue for the quarter increased 6.6% to $1.501 billion from $1.407 billion a year ago. On an underlying basis, revenue grew 3.1%.
Additionally, Smith & Nephew announced a share buyback program of up to $500 million, to be completed within the next twelve months.
For the full year, the company continues to expect underlying revenue growth of about 6%, and around 8% trading profit growth.
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