abn amro moves to buy, page-21

Hi,

now that dready has gone, let's answer his question:

Current State of Play:

Market Cap $331m
FY09 Revenue = 83 Million
FY09 Profit = 38.2 Million
PE = 8.7


Next Year:
190 million courses by the end of 2009 with a lag to cash position until June 2010.
190M courses of relenza alone with $1.75 going to Biota =
$332 Million in Revenue.

We don't know: Costs!
But, seeing as the company is giving back $20million to shareholders, it may be reasonable to assume that costs won't be much higher than last year at $45million??

Conclusion: $280 Million Profit FY09.


Question: What will BTA do with all that money??????


It doesn't take a genius to figure out that:

A: When you're onto a winner .. you stay on it.


I'll be buying some of dready's substantial shareholding ... on the 'morrow!


Joel