Allergy Therapeutics plc Preliminary Results for the Year Ended 30 June 2010
Highlights
• Maiden operating profit of £1.5 million (2009 restated: loss £5.1 million)
• Cash generated by operations of £1.1million (2009: used £0.1 million)
• Pollinex Quattro named-patient sales increased by 16% to £21.1 million
• Revenues increased by 8% to £40.8 million (2009: £37.8 million)
• Revenues increased by 5% on a constant currency basis
• Gross profit increased by 22% to £29.6 million (2009: £24.2 million)
• Profit after tax increased to £0.6 million (2009: loss £11.8 million)
• £11.7 million debt outstanding (2009: £30.9 million)
• Net debt reduced by £23.7million to £7.2 million (2009: £30.9 million)
• Acquisition of Teomed AG on 1 July 2010
Manuel Llobet, Chief Executive of Allergy Therapeutics, added:
“During the period we achieved a number of objectives set out at the beginning of the year including delivering a maiden operating profit. This has been achieved by investing in our European sales and marketing operations whilst improving the cost base. The second objective was to strengthen our position in Europe which we have achieved through entry into the well-established allergy markets in Switzerland and the Netherlands. Preparations are now underway to expand into new markets outside Europe and further develop our portfolio of products.
“The Group is in a strong financial position, with a transformed balance sheet, and now profit-making; I believe that we will build on this base and create significant value for shareholders and all stakeholders.”
For further information
Allergy Therapeutics +44 (0) 1903 845 820 Manuel Llobet, Chief Executive Officer Ian Postlethwaite, Finance Director www.allergytherapeutics.com
Nomura Code Securities +44 (0) 207 776 1200 Juliet Thompson/ Clare Terlouw
Financial Dynamics +44 (0) 207 831 3113 Ben Brewerton/ Susan Quigley
Juliet Edwards Assistant Financial Communications Holborn Gate, 26 Southampton Buildings London, WC2A 1PB T +44 (0)20 7269 7125 F +44 (0)20 7242 8695 www.fd.com