ALK-Abello shares rise after another FY outlook hike
24/06/2024 09:40
** Shares in ALK-Abello ALKb.CO rise 7% after the Danish
allergy vaccines maker on Friday raised its FY outlook for
revenue and earnings
** ALK-Abello expects revenue to grow by 12-15% in local
currencies, vs previous expectation for growth of 10-13%, and
EBIT margin to improve to 18-20% (prev: 17-19%) from 14% in 2023
** It cites a stronger outlook for European sales across
multiple markets
** While the outlook upgrade is encouraging, it is partially
offset by the withdrawal of the application for the house dust
mite allergy tablet also announced on Friday, says Jefferies
** If gains hold, the shares will see their best day since
May 3, when it last raised its revenue outlook
(Reporting by Tilla Sjaavaag)
((tilla.sjaavaag@thomsonreuters.com))