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Allergy Therapeutics profit slips in H1 on higher admin expenses
StockMarketWire.com
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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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