Financial summary
Group revenue grew 27% to £367.8m (2013/14: £290.5m); underlying revenue growth at constant currency and allowing for the full year impact of EKOS and TheraSphere® was 21%
Operating profit before acquisition adjustments and reorganisation costs was £67.9m (2013/14: £62.3m)
Profit before tax of £26.7m (2013/14: £33.3m) reflected increased investments, the impact of acquisition and foreign exchange movements
Adjusted earnings per share (excluding acquisition adjustments and reorganisation costs) were 8% higher at 15.7p (2013/14: 14.5p)
Cash and cash equivalents were £73.8m at 31 March 2015 (£38.2m at 31 March 2014)
Operating highlights Interventional Medicine
Controlled US launch of Varithena® (polidocanol injectable foam) initiated and ongoing: positive patient and physician feedback received and steady progress being made in securing reimbursement coverage
Continued growth of EkoSonic® due to increasing penetration of US hospitals, enhanced by the US Food and Drug Administration (FDA) clearance for use in the treatment of pulmonary embolism
Now selling Beads and TheraSphere® directly through expanded EU sales force; DC Bead® approved in China
PneumRx acquired: integration progressing well
Specialty Pharmaceuticals
Good DigiFab® performance, continued Voraxaze® growth and steady sales of the snakebite treatment CroFab® have resulted in strong segment growth
CroFab® patent litigation settled
Licensing
Continued increase in royalties from Zytiga® (abiraterone acetate)
Modest royalties from Lemtrada™ (alemtuzumab) following US approval
BTG's CEO, Louise Makin, commented: "We have delivered a good financial performance for the year, with each business delivering underlying growth of more than 20 percent. We have also made significant progress in expanding our Interventional Medicine business, including the US launch of Varithena®, indication expansion of EkoSonic®, the acquisition of PneumRx and the geographic expansion of our Interventional Oncology products. We look forward to another year of strong progress, confident that the strategy we are following will over time enable us to become a world leader in Interventional Medicine therapies and deliver significant value for all our stakeholders."
