5th Feb 2015 15:15
LONDON (Alliance News) - BTG PLC Thursday said its overall performance is currently in line with management expectations and said revenue for the full year will be higher than the company's previous guidance following its acquisition of PneumRx Inc and after a foreign exchange hit reversed.
Healthcare company BTG had previously forecast it would generate between GBP330 million and GBP345 million for the year to end March 31, 2015, but says after acquiring PneumRx it is now expecting revenue to reach between GBP345 million to GBP360 million.
PneumRx is a US-based interventional pulmonology company.
"The new guidance reflects the acquisition of PneumRx Inc, which completed on January 7, 2015, and a reversal of the adverse foreign exchange impact reported for the six months to September 30, 2014," said the company.
BTG shares were down 0.1% to 800.50 pence per share on Thursday afternoon.
By Joshua Warner; [email protected]; @JoshAlliance
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