CEO Summary Louise Makin, BTG's CEO, commented: "The business has performed well during the first half, and the outlook for the full year is strong. We have the capabilities and financial strength to take advantage of the increasing opportunities we are seeing to expand our Interventional Medicine business. By accelerating our growth strategy through reinvestment of our cash flows to maximise the value of and expand the current portfolio, we can build leadership positions in selected areas of interventional medicine and thereby create sustainable value for shareholders."
Outlook BTG has performed well in the first half, with double-digit revenue growth, strong free cash flow and disciplined cost control. Through the acquisition of Galil Medical we have strengthened our portfolio, capabilities and leadership in Interventional Medicine, which is our fastest growing and highest revenue business. We have the resources and capabilities to capitalise on the expanding opportunities we see in Interventional Medicine, by reinvesting our strong cash flows into further commercial expansion, pipeline development and acquisitions. In this way we will deliver double-digit compound annual revenue growth, cement our leadership in our chosen Interventional Medicine markets and create significant value for shareholders.
In view of the above, it was perhaps surprising to see the SP down over 5% today.
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.
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