- Allergy vaccine specialist Allergy Therapeutics posted a 68% rise in first-half profit, as it grew sales and margins and lowered R&D spending.

Pre-tax profit for the six months through December rose to £10.7m, as revenue climbed 11% to £46.7m.

'The group has made a strong start to the financial year,' chief executive Manuel Llobet said.

'Our ultra-short course products continue to drive good sales growth in a relatively flat market.'

'The group's pre-R&D operating profit has increased as a result of investment into our commercial business last year and our focused sales and marketing strategy.'

'2019 will be a very important year for the group and, in particular, our ultra-short course technology platform, with the start of the pivotal Phase III Grass MATA MPL trial for the US and Europe.'

'With an increasing market share, a healthy balance sheet, and an exciting clinical pipeline nearing key value inflection points, we look to the future with confidence.'

At 2:50pm: [LON:AGY] Allergy Therapeutics PLC share price was +0.5p at 14.25p

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