Shares in Smith & Nephew were up on the FTSE 100 in afternoon trading after the medical device maker reported a rise in revenue and trading profit in the full year ended 31 December 2010.
Revenue in the period was up four per cent to nearly four billion dollars. Trading profit increased 11 per cent to $969 million.
In the final quarter of the year revenue was flat at just over one billion dollars while trading profit increased nine per cent to $278 million.
In the full year the group's Orthopaedics division reported a rise in revenue of two per cent to $2.2 billion, the Endoscopy division saw sales increase seven per cent to $855 million while Advanced Wound Management also reported a seven per cent rise in revenue to $912 million.
David Illingworth, Chief Executive of Smith & Nephew, said, "We had a strong finish to 2010, continuing the momentum seen in the previous quarter.
"Four years ago we set ourselves the goal of significantly improving the efficiency of our business. Despite the economic challenges, we have achieved that goal. Not only that, but Smith & Nephew is outperforming the market in the majority of its business segments and we have built a culture of sustainably generating efficiency gains to fund our investments for growth.
"The long term growth drivers underpinning our industry - including demographics, emerging markets and patients' desire to return to an active life - remain strong. Looking forward, our strategic pillars for delivering shareholder value remain unchanged. Simply put, by giving our customers the right product, at the right time, with the right value proposition, we will continue to deliver long term growth."
By 13:50 shares in Smith & Nephew were up 1.54 per cent on the FTSE 100 to 723.00 pence per share.