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.
READ: Smith & Nephew weak as Citigroup downgrades to ‘neutral’ citing impact of coronavirus pandemic
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.
Shares rose 2% to 1,622p on Wednesday in early trades.
--Adds shares--