Almirall profit up 41% on tax effects

Spanish drugmaker Laboratorios Almirall's income rocketed 41%, year-on-year, for the first quarter of 2009, due to taxation effects.  The positive result drove the firm's stock price up 6% to 7.88 euros per  share.

The company generated 245.0 million euros ($88.9 million) in revenue, up  3%. R&D costs were up 3% to 33.4 million euros. Almirall's net income  was 63.8 million euros, or 0.38 euros per share, versus 45.3 million  euros, or 0.27 euros per share.

Recurring net profit was up to 49.5 million euros, above the estimates  of Thomson Reuters-polled analysts, who forecast 48.3 million euros.