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Smith & Nephew revenue up 2 pct, at bottom end of forecasts

Reuters - UK Focus

(Adds detail, shares)

LONDON, Nov 3 (Reuters) - Artificial hip and knee maker Smith & Nephew (Frankfurt: 502816 - news) reported a 2 percent rise in underlying quarterly revenue to $1.12 billion, towards the bottom of forecasts, after sales grew only 2 percent in the United States and stalled in other established markets.

Analysts had been expecting revenue in the range of $1.12 billion to $1.15 billion, according to company-supplied figures.

Shares (Berlin: DI6.BE - news) in the company, which have fallen by 10 percent in past month, dropped to a four-month low of 11.15 pounds after the results were published on Thursday. They were trading down 1.5 percent at 11.37 pounds by 1145 GMT.

Smith & Nephew said its knees implants business continued to perform "consistently well", but it was still struggling to find growth in its hips implant division. (Reporting by Paul Sandle; Editing by David Goodman)