ALK Abello reports strong improvement in 2nd-qtr financials

Denmark-based allergy specialist ALK Abello (ALKB: DC) has reported significant progress in its sales for the second quarter of 2014 compared with the same period last year. Net profit was 31 million kroner ($5.5 million), compared to a loss of 30 million kroner in the same quarter of 2013.

Revenue grew to 615 million kroner, an increase of 17% from 532 million kroner. The company said this was driven by a 143% increase in revenue from sublingual allergy immunotherapy tablet (SLIT)-tablets due to milestone payments and reimbursement.

Earnings before interest, taxes, depreciation and amortization (EBITDA) before special items stood at 109 million kroner, which compares favorably to the 7 million kroner loss reported in the same quarter in 2013, due to higher revenue and lower research and development expenses.