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Medical technology business Smith+Nephew reported an uptick in third-quarter revenue, but said it expected to report revenue at the low end of its guidance following the impact of pandemic and supply chain woes.
For the third quarter ended 2 October 2021, revenue rose 5.5% to $1,266 million year-on-year.
Revenue was driven by growth in its sports medicine & ENT business of 8.3% and advanced wound management revenue of 12.1% offsetting a 0.7% decline in its orthopaedics business.
Looking ahead, the company said it was on-track to deliver at the low end of full year guidance, reflecting 'impact of Delta variant and supply constraints.'
For 2021, the underlying revenue growth guided range was 10.0% to 13.0%, and trading profit margin guided range was 18.0% to 19.0%.