Hull-founded Smith & Nephew has continued its strong performance in 2023, with revenue growth of 7.7 per cent reported in the third quarter of trading.
The global medical firm, launched by a city pharmacist and now listed in London and New York, saw sales up from $1.25 billion (£1 billion) to $1.357 billion (£1.1 billion) in the period to September 30. Advanced wound management, the division still based in Hull, though a £94 million move to nearby Melton is emerging, saw revenues up 3.6 per cent with double digit growth from elements within it. Orthopaedics saw a 8.3 per cent increase, while sports medicine and ENT was up 11.1 per cent.
Read more:
Deepak Nath, chief executive officer, said: “We saw strong growth in the third quarter, continuing the momentum from the first half of the year. Performance was broad-based, and I am particularly pleased by the step-up in Orthopaedics as we start to see the real impact from our improving execution under the 12-Point Plan.
“Our investment in innovation continues to bear fruit. Overall, I am encouraged that our actions to transform Smith+Nephew to a consistently higher growth company are starting to deliver.”
Smith & Nephew was founded by pharmacist Thomas James Smith from his small operation in Hull in 1856, initially developing a new method for refining cod liver oil, before moving into bandage cutting and rolling less than a decade before the outbreak of the First World War.
Original artice – https://business-live.co.uk/all-about/yorkshire-humber
