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Allergy Therapeutics profit slips in H1 on higher admin expenses

By BFN News | 10:04 AM | Wednesday 03 March, 2021


Biotechnology company Allergy Therapeutics reported a slight decline in first-half as an uptick in administrative expenses offset sales growth. For the six months ended 31 December 2020, pre-tax profit slipped to £15.6 million from £15.9 million year-on-year, while revenue increased by 7% to £54.0 million. The company's pre-R&D operating profit hit a record of £20.5 million as a result of continued sales growth and operational efficiency. Administrative expenses climbed to £14.3 million from £9.5 million, owing to investment in compliance and infrastructure. The company's pre-Investigational new drug meeting with FDA for its VLP peanut programme is scheduled for H1 2021. At 10:04am: (LON:AGY) Allergy Therapeutics PLC share price was 0p at 13.88p Story provided by StockMarketWire.com

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