Bioventix (AIM:BVXP) – cracking update and results significantly ahead
The UK creator and engineer of antibodies for applications in clinical diagnostics, which we commented on in April 2015, has announced a short yet highly positive trading update covering the year ending 30 June 2015. This really is a unique little business on AIM.
The update confirmed that the core business remains robust and that revenues for the year are expected to be in excess of £4.2m (2014:£3.5m) and given the relatively modest and fixed cost base, profits before tax will be significantly ahead of market expectations. House broker expectations were previously for pre-tax profit of £2.7m and eps of 44.8p which have now been upgraded to £3.1m and 50.8p, that’s quite an upgrade. For the year ending June 2016 estimates have been moved to pre-tax profit of £3.4m and eps of 55.2p. The forecast dividend for 2-015 remains unchanged at 26.4p offering a…