Share prices are forward indicators. BTG may be hedged but future hedges will be at 1.30 or possibly even lower. Is it £13M in earnings per 5c, do I recall? At 1.30; this stock must have a long way to run, albeit with earnings realization a little way down the track. Just dipping in with a further £30k.
From BTGs annual report: “The average rate for the year was $1.51 compared to $1.61 in the prior year. A five cent movement in the dollar exchange rate results in an approximate £13m change in Group revenues.”
With the current exchange rate at $1.32/£ BTG will benefit by around £50m pa!
SP seems to be holding up - in spite of Louise and Rolf's cashing out of a cool £3.3 million+ worth of shares between them recently, in part to cover tax and national insurance liabilities apparently. Lucky them.
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