Allergy Therapeutics Pre-Tax Profit Drops

Allergy Therapeutics PLC

reported a decline in its profit for the full year. Allergy Therapeutics' pretax profit for the year slipped to 654,000 pounds ($1.0 million), versus GBP1.1 million in the year-ago period. Its revenue increased to GBP43.2 million from GBP42.0 million. CEO Manuel Llobet said, "Growth in the European markets is expected to be relatively slow in the coming year but with the continued momentum across the company's activities, the outlook is very positive and we expect to increase our market share into the next year, delivering improved top-line growth."