Smith & Nephew PLC (LON:SN.) said revenue in April plunged 47% as most of its markets have stopped non-emergency surgery amid the coronavirus pandemic.
The medical products manufacturer said that these procedures are starting to return in some countries, including the US, while China has shown improved trading.
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In the quarter to 28 March revenue slipped 8% to US$1.3bn.
The FTSE 100-listed firm has implemented measures to save up to US$200mln, while it had US$1.8bn of net debt at the end of the quarter with US$3.4bn of committed facilities.