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Smith & Nephew sees full-year growth at lower end of guidance

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Smith & Nephew sees full-year growth at lower end of guidance

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LONDON (Reuters) – European hip and knee maker Smith & Nephew <SN.L> said on Friday its growth for the year would be at the lower end of its guidance after reporting a 3 percent rise in revenue for the third quarter, just missing average market expectations. The company, in which activist investor Elliott Management is reportedly building a stake, made revenue of $1.15 billion for the quarter. Analysts had expected $1.16 billion, around the middle of a $1.139-1.184 billion range. Smith & Nephew’s forecast for underlying revenue growth for the full year was between 3 and 4 percent.

(Reporting by Paul Sandle, editing by James Davey)
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