Emerging markets growth boosts S&N

Orthopaedics specialist Smith & Nephew has been boosted by doubledigit growth in emerging markets.

Trading profits at the FTSE 100 artificial hip and knee maker edged up 2pc to $493m (£377m) in the first half of its financial year, ahead of market expectations of $488m. Underlying sales rose 3pc to $1.19bn.

Growth was strongest in emerging markets, where revenues were up 13pc in the second quarter.

Smith & Nephew is increasing its investment in robotics, including in surgery systems and orthopaedic replacements, as it competes with major American rivals.

Financial guidance for the full year was unchanged, with sales expected to be up 3pc-4pc.

The company’s shares rose 3.3pc to £13.44 yesterday.