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Allergy Therapeutics reported a rise in profit as higher revenue and lower research and development spending underpinned performance.
For the six months ended 31 December 2019, pre-tax profit rose to £15.9m from £10.7m on-year as revenue increased by 8% to £50.5m.
The sales growth had been driven primarily by 'the group's investment in marketing and sales teams and broadening of the product portfolio as it continues to increase its market share in all of its main markets,' the company said.
R&D expenditure fell to £1.3m from £5.0m
'The group has made a steady start to the year with good sales growth supporting our strategy. The regulatory environment remains uncertain but we continue to perform well commercially and to progress our high potential pipeline,' the company said.
At 9:31am: (LON:AGY) Allergy Therapeutics PLC share price was 0p at 10.75p