Smith & Nephew narrowly misses profit and revenue expectations

|About: Smith & Nephew plc (SNN)|By:, SA News Editor

Smith & Nephew's (SNN) Q1 adjusted EPS of 17.7 cents misses by 0.05 cents.

Revenue of $1.07B (+1% Y/Y) misses by $0.02B.

The surgical device company's underlying trading profit drops 5% to $229M and slightly misses consensus of $231M, hurt by investment in products and slower revenue growth.

However, Smith & Nephew remains confident in its 2014 outlook as it launches new products and the contribution of acquisitions increases.

Shares are -0.2% in London. (PR)