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Allergy Therapeutics says 2020 net profit will be well ahead of expectations

The update was provided in a brief trading statement

Allergy Therapeutics PLC -

Allergy Therapeutics PLC (LON:AGY) said it expects its 2020 net profit to be “significantly above market expectations”.

The update was provided in a brief trading statement in which the allergy vaccines specialist said revenues for the 12 months ended June 30 would be at least 4% ahead of the comparable period last year on a constant currency basis.

The swing factors were operating cost efficiencies and the timing of the planned research and development expenditure.

A further update is planned for the week beginning July 13.

Headquartered in Worthing, West Sussex, Allergy Therapeutics employs around 500 people helping develop inoculations against common allergies.

It has five products registered, as well as another five that are available on a named patient basis – this means they can only be prescribed by a doctor.

It has a strong presence in Europe, with established operations in Germany, Italy, Spain, Austria, Switzerland, the Netherlands and the United Kingdom, while in other markets, it often makes its products available through distribution partners.

Its Pollinex Quattro vaccine for the treatment of seasonal allergic rhinitis (hay fever) from grass, tree or ragweed pollen allergy is well-established in Europe.

Quick facts: Allergy Therapeutics PLC

Price: 14 GBX

AIM:AGY
Market: AIM
Market Cap: £89.22 m
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