Smith & Nephew (SNN) Q1 2016 Results - Earnings Call Transcript

May 06, 2016 12:44 AM ETSmith & Nephew plc (SNN)
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Smith & Nephew Plc (NYSE:SNN) Q1 2016 Results Earnings Conference Call May 5, 2016 4:00 AM ET

Executives

Julie Brown - Chief Financial Officer

Mike Frazzette - Chief Commercial Officer

Analysts

Lisa Clive - Sanford C. Bernstein

Michael Jüngling - Morgan Stanley

Alex Kleban - Barclays Capital

Chris Cooper - Jefferies

Veronika Dubajova - Goldman Sachs

Tom Jones - Berenberg

Ines Silva - Bank of America Merrill Lynch

David Adlington - JPMorgan

Operator

Certain statements in this presentation are forward-looking statements. The statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances.

Actual results may differ materially from those included in these statements due to a variety of factors. More information about these factors is contained in the company’s filing with the Securities and Exchange Commission.

At this time I’d like to hand the conference over to Ms. Julie Brown. Please go ahead.

Julie Brown

Thank you very much. Good day, everyone. [Audio Gap] trading update call. I’m Julie Brown, CFO of Smith & Nephew. Olivier is not able to participate in today’s presentation due to his scheduled treatment. He is doing well and sends his regards.

I will start by covering the highlights of the quarter. I’ll then hand over to Mike Frazzette, our Chief Commercial Officer, who will provide more color on our first quarter trading by business area. I will conclude with a summary. And as usual we will take questions at the end.

In the first quarter we’ve seen a continuation of the same trends that we saw in the first half of 2015. And our outlook for the full year is unchanged. As usual this slide captures our underlying growth. On the left hand side geographically and on the right hand side by product franchise.

We delivered 4% underlying revenue

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