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BTG plc (BTG.L): Interim Results


11/12/2013 9:00:25 AM

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London, UK, 12 November 2013: BTG plc (LSE: BTG), the specialist healthcare company, today announces its interim results for the six months ended 30 September 2013.

Financial summary

? Underlying1 revenue 17% higher at £139.0m (H1 12/13: £119.3m). Reported revenue 7% higher at £153.0m (H1 12/13: £143.4m)

? Acquisitions have contributed revenue of £13.3m since completion in July 2013. Prior period included £24.1m of non-recurring revenue (BeneFIX®, brachytherapy, AZD9773)

? Operating profit of £25.0m (H1 12/13: £26.2m) reflects the higher revenues offset by royalty mix, preparations for Varisolve® PEM launch and the effect of acquisitions

? Profit before tax 18% higher at £32.7m (H1 12/13: £27.7m)

? Basic EPS 21% higher at 6.8p (H1 12/13: 5.6p)

? Cash and equivalents of £39.8m at 30/9/13 (£158.7m at 31/3/13) post acquisitions and equity issue

Operating highlights

Interventional Medicine

? PEM progressing towards potential US approval (4 December 2013 PDUFA goal date); commercial planning advanced for anticipated H1 2014 launch

? Acquisitions of TheraSphere® and EKOS completed; integrations progressing well

? Combined investment and clinical strategy for Beads and TheraSphere® announced today

Specialty Pharmaceuticals

? Performance in line with expectations following strong growth in prior period

? First European named-patient sale of uridine triacetate

Licensing

? Zytiga® (abiraterone acetate) royalty revenue grew 78% driven by indication expansion

? Sanofi/Genzyme’s Lemtrada® (alemtuzumab) approved in the EU for multiple sclerosis

Louise Makin, BTG’s CEO, commented: “BTG has delivered a strong performance during a transformational period for the business. The acquisitions of TheraSphere® and EKOS, together with our developing Beads business and advancing PEM opportunity, provide a powerful platform to deliver significant, sustainable and profitable growth. We are firmly on track to create a world leader in Interventional Medicine and to continue to deliver significant value to our shareholders.”

1 Excluding acquisitions from the current period and non-recurring revenue (BeneFIX®, brachytherapy, AZD9773) from both periods

For further information contact:

BTG FTI Consulting

Andy Burrows, Director of Investor Relations Ben Atwell/Simon Conway

+44 (0)20 7575 1741; Mobile: +44 (0)7990 530605

+44 (0)20 7831 3113

Rolf Soderstrom, Chief Financial Officer

+44 (0)20 7575 0000

About BTG

BTG is an international specialist healthcare company that is developing and commercialising products targeting acute care, cancer and vascular diseases. The company has diversified revenues from sales of its own marketed products and from royalties on partnered products, and is seeking to acquire new programmes and products to develop and market to specialist physicians. For further information about BTG, please visit our website at www.btgplc.com

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