Allergy Therapeutics reported an 11 per cent rise in gross profit to 20.7m pounds in the first half as costs were reduced.
The cost of goods fell to £6.4m in the last six months of 2013, compared to £7m, following a number of cost cutting measures.
Gross revenue, excluding the German rebate and milestones, rose 12% to £29.9m, supported by an exchange gain of £1.7m.
During the prior period the company recognised milestone revenue of £0.8m in relation to signing a new distributor for Canada.
The improvement came despite weak allergy vaccine markets in Europe
Research and development expenditure increased by 10% to £1.1m, due to investment in projects including, the Pollinex Quattro Birch dose ranging study.
"The recent positive developments in the US allergy regulatory environment, along with the progress we have made with the North American regulatory authorities, underscore our confidence that the US market will emerge as a valuable market for registered allergy vaccines," the group said.
"We continue to explore our strategic options for the development and commercialisation of Pollinex Quattro in these territories as a compelling opportunity to be first to market in the subcutaneous segment with short-course products that could revolutionise the way such immunotherapy treatments are administered."
The provider of financial advice on the investment of personal injury damages Frenkel Toping has reported a 15 per cent increase in its full-year revenues to 5.5m pounds.
Profits before taxes grew by 35% to reach £1.39m (1.76p per share), as gross margins improved to 64% from 60% beforehand.
Funds deposited by clients with their Investment Management Service rose to £558m while recurring income hit £3.8m, versus the £3.2m achieved in 2012.
Cashflow from operations nearly tripled to £1.7m.
Profit from operations before share based compensation and provisions increased 30% to £1.437m, as operating margins improved to 26% (Shore Capital forecast: 23%) from 23% in the year before.
The company´s cash balance at the end of 2013 came in at £1.5m, ahead of the £0.4m that was on hand at the end of 2012.
David Southworth, Chairman of Frenkel Topping, highlighted the fact that the company achieved a fifth consecutive year of client retention at 99% and his confidence in the future, as reflected in the group´s continued progressive dividend policy.
The dividend has been increased by 93% to 0.58p, as a result of which the 'dividend cover' has been reduced to 3.1 times net profits, compared to the 4.7 seen in 2012.
Stock in the AIM-listed company was off by 12% to 44p on Monday but well above the closing 2013 level of 31p.