By Matteo Castia

Smith & Nephew PLC on Thursday resumed its full-year guidance following a revenue increase in the first quarter, thanks to a return to growth across most divisions.

The medical-technology group said first-quarter revenue rose 12% year-on-year, or 6.2% on an underlying basis, to $1.26 billion.

Smith & Nephew said reported growth included benefits of 3.4% from foreign-exchange effects and 1.9% from acquisitions.

Meanwhile, all three global franchises of the FTSE 100 company returned to growth on a reported and underlying basis, it said.

Smith & Nephew said it is now targeting full-year underlying revenue growth in the range of 10% to 13%, assuming improvement in conditions through the year.

Write to Matteo Castia at matteo.castia@dowjones.com

(END) Dow Jones Newswires

04-29-21 0252ET