Yesterday (19/10/20) Bioventix (LON:BVXP) announced results for the year to 6/20.

You can find the RNS here: https://www.londonstockexchang...

There was comment in the SCVR but unfortunately it was drowned out by a tsunami of chatter about a certain £3bn. mcap company and its auditors resulting in 179 posts so I have tried to pick out the BVXP posts and paste them below.

In the evening the company presented to Mello - if any reader attended that please let us know how it went.

So... Paul's post:

Share price: 4250p (up 2.4%, at 12:22)
No. shares: 5.2m
Market cap: £221m

Results for the year ended 30 June 2020

Bioventix plc (BVXP), a UK company specialising in the development and commercial supply of high-affinity monoclonal antibodies for applications in clinical diagnostics, announces its audited results for the year ended 30 June 2020.

This is a remarkable little company, that generates a huge profit margin, and has achieved decent growth, although note that PER multiple expansion has also been a contributor to share price gains. Can that be maintained, or extended further? Who knows, that's down to stock market sentiment.
.
Look at the stunningly high profit margin below, this is even higher than Rightmove, and is extremely unusual - a profit margin of 79.8% after all costs (but before corporation tax). Astounding! How is this possible? Niche products, with long lead times, hence little to no competition. Plus low overheads. I've always wondered how sustainable this is, but so far, it has been more than sustained.

Highlights: * Revenue up 11% to £10.31 million (2019: £9.29 million) * Profit before tax up 18% to £8.23 million (2019: £6.97 million) * Cash at year end up 27% to £8.1 million (30 June 2019: £6.5 million) * Second interim dividend of 52p per share (2019: 43p) * Special dividend of 53p per share (2019: 47p)


.Balance sheet - small, but very strong, with surplus cash. No issues here.

Cashflow statement - very simple. It generates lots of cash, and pays out most of it in divis.

Note the growing importance of special divis
.
My opinion - neutral, because I don't have the specialised knowledge to assess the company's products or outlook. It mentions new products delivering additional shareholder value from…

Unlock the rest of this Article in 15 seconds

or Unlock with your email

Already have an account?
Login here