Allergy Therapeutics: Preliminary Results

28th September 2017 | Allergy Therapeutics plc

Allergy Therapeutics plc (AIM:AGY), the fully integrated specialty pharmaceutical group specialising in allergy vaccines, today announces preliminary results for the year ended 30 June 2017.

Financial highlights

  • 72% increase in operating profit (pre-R&D) to £7.4m (2016: £4.3m)
  • 32% revenue growth increase in actual terms to £64.1m (2016: £48.5m)
  • 15%* revenue growth at constant currency to £55.5m (2016: £48.5m)
  • 10% compound annual growth in net sales over 18 years
  • Market share in the Group’s main European markets increased to 13% (2016: 12%)
  • Cash at 30 June £22.1m (2016: £23.4m)

Operational highlights

  • Commencement of recruitment for pivotal Phase III Pollinex Quattro Birch trial
  • US Grass MATA programme proceeding well; safety study successfully completed
  • First patient recruited for Acarovac MPL Phase I trial in Spain
  • Positive pre-clinical proof of concept trial data announced for Polyvac Peanut

Manuel Llobet, Chief Executive Officer of Allergy Therapeutics, commented:

“This has been another strong year of growth with constant currency growth of 15%* increasing our market share and, together with a favourable sterling/euro exchange rate, boosting operating profit pre R&D by £3.1m. Our continuing growth and progress on our pipeline reflects the quality of the products and the committed team that works at Allergy Therapeutics. We expect further good progress in the coming year.”

This announcement contains insider information for the purposes of Article 7 of Regulatory (EU) No596/2014.

* percentage based on figures in thousands (2017: £55.545m, 2016: £48.509m)

Results in full