March 4, 2020 / 8:55 AM / a month ago

BRIEF-Allergy Therapeutics Sees Net Sales To Continue To Grow In Line With Market Expectations In H2

March 4 (Reuters) - Allergy Therapeutics PLC:

* HY REVENUE INCREASED BY 9% AT CONSTANT RATE AND 8% IN ACTUAL TERMS TO £50.5M (H1 2019: £46.7M)

* HY OPERATING PROFIT PRE RESEARCH AND DEVELOPMENT MARGIN OF 34% (H1 2019 34%)

* HY CASH BALANCE OF £39.7M (30 JUNE 2019: £27.4M)

* EXPECT NET SALES WILL CONTINUE TO GROW IN LINE WITH MARKET EXPECTATIONS IN SECOND HALF OF YEAR

* GROSS MARGIN IS EXPECTED TO BE LOWER IN SECOND HALF OF YEAR COMPARED WITH FIRST

* COSTS FOR FULL YEAR ARE EXPECTED TO BE IN LINE WITH MARKET EXPECTATIONS DUE TO PHASING AND BREXIT

* MANAGEMENT HAS TAKEN ACTION TO TRY TO MITIGATE IMPACT OF BREXIT

* IT WILL BE DIFFICULT TO DETERMINE PRECISELY WHAT IMPACT BREXIT WILL HAVE ON BUSINESS UNTIL A TRADE DEAL IS CONCLUDED Source text for Eikon: Further company coverage:

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