Allergy Therapeutics (AGY)

 

Allergy Therapeutics revenues up

Allergy Therapeutics expects reported revenues for the six months ended 31 December to be £40.4m - representing 17.9% organic growth at constant currency and 39.3% growth on a reported basis, aided by the impact on euro revenues of the weak pound.

The group said this growth reflected continued strong momentum across the majority of its key markets.

A trading update said: "In a flat European market, the company is fuelling its growth by increasing market share in most of its key markets.

"The main contributions in terms of net sales growth were generated in Germany, Austria, Spain and The Netherlands.

"In terms of products, growth is being provided across the whole portfolio, with the company's ultra-short course aluminium-free therapies being the main contributor.

"The board expects continuing growth in the second half of the year.

"The strength of the euro against sterling has also led to higher overheads and R&D costs as most of these costs are incurred in continental Europe in euros but are reported in sterling."

At 9:27am: (LON:AGY) Allergy Therapeutics PLC share price was +0.5p at 24p