Smith & Nephew lowers growth outlook amid coronavirus uncertainty

Smith & Nephew, which makes medical devices, has nudged its revenue growth prediction lower, even as its full-year group sales surpassed $5bn for the first time. The FTSE 100 group envisages sales increasing this year by a range of 3.5 per cent to 4.5 per cent, down from the rejigged outlook it announced the day before Roland Diggelmann took the reins as chief executive. The company, which produces joint repair sports medicine, said in October that sales growth for 2020 would be between 4 per cent and 5 per cent. Its medium term outlook is unchanged, it said on Thursday.