BTG's interim profit soars thanks to solid growth across the board

Healthcare group BTG has posted an increase in interim pre-tax profit, boosted by solid growth across all of its divisions.

In the six months to 30 September, the FTSE 250 group posted a 40.6% year-on-year increase in pre-tax profit to £52.9m, while revenue rose 20% to £229.6m.

The company said the first full six-month contribution from its acquisition of PneumRx, which was completed in January this year, delivered an important boost to its results, as did continued growth across its four business segments.

The group’s interventional medicine division posted a 36% year-on-year rise in revenue, while the interventional vascular segment and the licensing division posted a 40% and 31% gain respectively and the speciality pharmaceuticals registered a marginal increase.

"We have had a good first half, delivering double-digit revenue and contribution growth from our portfolio of products while increasing investment in our Interventional Medicine business," said group chief executive Louise Makin.

The group said it remains on track to deliver double-digit revenue growth for the full year and was aiming at making for investments in the future.

BTG shares were down 4.76% to 520.00p at 0823 GMT on Tuesday.