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Smith Nephew Smith + Nephew First Quarter 2021 Trading Report Delivering on our priorities with an encouraging start to 2021 , guidance reinstated 29 April 2021 Smith + Nephew ( LSE : SN , NYSE : SNN ) trading report for the first quarter ended 3 April 2021 . Highlights 1,2 Q1 revenue $ 1,264 million ( 2020 : $ 1,134 million ) up 11.5 % on a reported basis and 6.2 % on an underlying basis ○ Reported growth includes benefits of 3.4 % from foreign exchange and 1.9 % from acquisitions O Q1 included two more trading days than the equivalent 2020 period ○ All three global franchises returned to growth on a reported and underlying basis Orthopaedics revenue up 1.6 % underlying , with strong growth in Hip Implants and Trauma & Extremities offset by anticipated weaker performance in Knee Implants Sports Medicine & ENT revenue up 10.4 % underlying , driven by the return of elective surgeries in an outpatient setting O Advanced Wound Management revenue up 9.3 % underlying , benefitting from improved commercial execution Established Markets revenue was up 3.4 % underlying , with US up 7.1 % offset by a -1.8 % decline from Other Established Markets , mainly due to COVID impact in Europe Emerging Markets revenue was up 21.8 % underlying , with China rebounding strongly from COVID impact in prior year Outlook • Full year 2021 guidance reinstated ○ Trading profit margin in range of 18.0 % to 19.0 % 。 Targeting underlying revenue growth in range of 10.0 % to 13.0 % ; and O Guidance assumes improvement in conditions through the year , with surgery volumes largely unconstrained by COVID in second half Roland Diggelmann , Chief Executive Officer , said : “ Our first priority for 2021 is to return to growth and recapture our pre - COVID momentum , and we are encouraged by our early progress through Q1 . This was driven not only by surgery volumes moving towards more normal levels in many markets , but also the benefits from better commercial execution , acquired assets , and recent product launches . " Looking ahead , there is improving visibility as vaccine programmes roll out and healthcare systems reopen . Our approach through 2020 to maintain investment is already demonstrating value and I look forward to seeing further evidence of this as the recovery continues . "