BTG sales rise can’t halt stock fall

Specialty pharmaceuticals firm BTG yesterday reported a 19 per cent hike in its annual revenues to £233.7m in the year to 31 March, yet saw its stock drop more than five per cent to 338.6p as the annual results disappointed investors. “A forward price/earnings ratio of over 26 based on growth forecasts that some analysts believe are optimistic doesn’t exactly whet the appetite,” said Matt Basi of CMC Markets.