Revenue jump boosts BTG full-year profits

Healthcare company BTG more than doubled full year pre-tax profits to £57.5m on the back of a 22% jump in revenues to £447.5m.

The company said expected revenue for fiscal 2017 to be in the range of £485m-£515m, with selling general and administrative costs to be £160m-£170m and research and development investment to be £85m to £95m.

Chief executive Louise Makin said the company was “making good progress in implementing our growth strategy, investing in geographic expansion, product innovation and indication expansion to maximise the value of our portfolio”.

“Our strategy is also to expand our portfolio through M&A, and the acquisition of Galil Medical cements our leadership in interventional oncology."

"Through consistent delivery of our operating goals and financial targets, we are well placed to maintain or develop leading positions in all our chosen market segments. With our portfolio, team, capabilities and resources, we have a scalable platform for long-term growth and sustained value creation for shareholders."