Emerging markets boost S&N

​Smith & Nephew, Europe’s largest maker of artificial knees and hips, posted a ​three​ per​ ​cent underlying rise in revenue for the first quarter, helped by strong growth in sports medicine joint repair and increased trade in emerging markets.

The company posted revenue of ​£700m, in line with market expectations, and said it ​i​s on track to make further progress during the year.

Smith & Nephew said in February it expected revenue growth this year to exceed the ​two​ per​ ​cent recorded in 2014, with a further improvement in profit margins.

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​The company has said that its Advanced Wound Management business in Hull is set to lose 140 jobs by July 2016 as production is transferred from Hull to China in a bid to “fully utilise” all its manufacturing facilities.

But the ​firm said Hull remains a “major cornerstone” of the business and plans to invest $16m (£9.4m) in the plant.

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