(Reuters) -UK’s Smith+ Nephew on Thursday forecast annual revenue growth at the higher end of its guided range of 6-7% and named ad group WPP’s former finance boss John Rogers as its new chief financial officer.
Strong sales from wound management and orthopaedics is likely to drive up underlying revenue growth for 2023, above analysts’ average expectations of 6.4%, the company said.
New CFO Rogers will replace Anne-Françoise Nesmes, whose resignation was announced in August.
The company is the UK’s largest medical products maker by market capitalisation, and makes orthopaedic implants and prosthetics, wound dressings, and other surgical technologies.
It posted an 8.5% rise in revenue to 1.36 billion pounds ($1.66 billion) for the three months ended September 30. Analysts, on average, had expected revenue of 1.34 billion pounds.
However, it added that it expected a profit headwind from its sports medicine division due to softness in the China market.
($1 = 0.8214 pounds)
(Reporting by Prerna Bedi in Bengaluru; Editing by Janane Venkatraman)
