Healthcare firm says it expects strong growth in revenues in full-year results in May
Companies: BTG Hotels (Group) Co Ltd Shs -A-
FTSE 250 healthcare company BTG said it expects revenue to be at or above the upper end of the guidance range of c.£565m when it releases its full-year results in May.
In a trading update, the London-based Group said it had seen strong growth in two of its key divisions (Oncology and Vascular), and a slight fall in a third (Pulmonology).
Consensus is estimating £560m in revenues for FY17, with analysts anticipating considerable pre-tax profit growth of 30% to £80m. As a result, EPS is also forecast to jump 30% to 21.6p from 16.6p last year.
CEO Louise Makin said the business had made significant progress in executing its strategy to become a leading provider of interventional medicine therapies:
"We have expanded the portfolio both organically and through acquisition and have delivered good revenue growth. A strong performance from TheraSphere® and the addition of Galil Medical have helped cement our leadership in Interventional Oncology."
She added that its subsidiary EKOS had increased its market penetration, and the Group had good momentum across the board "...we start the new financial year with confidence."
Shares in BTG rose 4% early on Thursday. At its current share price, the company has a P/E of 27.3x, but this falls to 18.4x on a forward 12-month basis, higher than the industry average of 16.5x.
