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Smith & Nephew on track for profit improvement in 2015

Reuters - UK Focus

LONDON, Oct (HKSE: 3366-OL.HK - news) 29 (Reuters) - Smith & Nephew Plc (LSE: SN.L - news) , Europe's biggest maker of artificial hips and knees, stuck with its forecast for a higher trading profit margin this year as it said third-quarter revenue rose and it announced the acquisition of a robotics company.

Smith & Nephew said that underlying revenue rose 4 percent to $1.11 billion helped by growing demand for knee implants and a strong performance in the United States.

The company also on Thursday agreed to buy Blue Belt Holdings Inc for $275 million, securing a foothold in orthopaedic robotics-assisted surgery, which it predicted would be used more widely in future. (Reporting by Sarah Young, Editing by Paul Sandle)