Smith & Nephew Q3 Results - continued strong profit performance 6 November 2009 Smith & Nephew plc (LSE: SN, NYSE: SNN), the global medical technology business, announces its results for the third quarter ended 26 September 2009.
3 months* to 9 months to 27 27 26 Sept Sept Underlying 26 Sept Sept Underlying 2009 2008 increase 2009 2008 increase USDm USDm % USDm USDm % Revenue1 915 930 1 2,706 2,841 2 Trading profit2 208 174 22 603 554 17 Operating profit2 186 135 534 451 Trading margin (%) 22.8 18.7 410 bps 22.3 19.5 280 bps EPSA (cents)3 16.8 12.2 45.3 39.0 EPS (cents) 14.5 8.4 39.0 29.3 Business Unit revenue1 Orthopaedics 503 513 0 1,542 1,608 1 Endoscopy 195 195 1 561 594 0 Advanced Wound Management 217 222 3 603 639 5 * Q3 2009 comprises 63 trading days (2008 - 63 trading days) Q3 Commentary .
Reported revenue USD915 million, underlying growth of 1% . Reported trading profit USD208 million, up 22% underlying . EPSA increased 38% to 16.8 cents, partly benefiting from a lower estimated tax rate . In Orthopaedics an improved Reconstruction performance was off-set by weaker Trauma . Endoscopy continues to achieve strong repair sales while capital equipment related markets remain soft .
Advanced Wound Management delivered another strong European growth performance at 8% . Trading margin improved 410 basis points to 22.8% Commenting on the third quarter, David Illingworth, Chief Executive of Smith & Nephew, said:"We achieved a 22% growth in our trading profit at constant currency as our focus on operational efficiency continues to deliver.