Interesting to see S&N quarterly report stating the...

Interesting to see S&N quarterly report stating the following:

"Q3 Commentary

Strong reported revenue up 10% to $1,032 million, underlying growth of 5%
Trading profit was $205 million, a trading margin of 19.8%
Two of the three businesses delivered strong trading margins: Endoscopy 23.7% up 90bps and Advanced Wound Management 25.4% up 80bps
Orthopaedics’ trading margin 15.6%, due to continuing adverse sales mix, high periodic costs, and the need to reduce costs to better reflect market conditions
Actions taken to materially improve Orthopaedics’ trading margin from Q4 onwards
Q4 Group trading margin expected to be above 24%
Adjusted earnings per share increased by 0.6% to 16.2¢
Trading profit-to-cash conversion ratio of 102% (2010: 95%), net debt decreased to $196 million (2010: $600 million)
Action plans in line with new strategic priorities to maximise growth and margins well advanced, targeting annual savings of at least $150 million"

I like:

"Advanced Wound Management 25.4%"
"Action plans in line with new strategic priorities to maximise growth and margins well advanced..."

Being wound management appeared to report the groups highest trading margin I would like to believe the last point "strategic priorities" could include TIS.