Profit before tax for the six months ending 28 February were £236m -- a year-on-year increase of 16%. Sales were up by 12% to £1.46bn.
The news, however, did not stop the share price dropping 22.75p to close at 405.25p last night. Analysts expressed concerns about the 1% increase in advertising and marketing spend, suggesting it was not enough in the face of stiff competition from industry leader Diageo.
Allied's underlying growth lagged behind Diageo's growth figure by 2.3%, according to an analyst at ABN Amro.
Chief executive Philip Bowman defended Allied's spend, saying that advertising budgets in Mexico were cut because of an increase in excise duty. Advertising and promotion spend would increase more significantly in the second half of the year and, at the end of the year, it will show an increase of 4%, he added.
Shares rose slightly in after-hours trading to open this morning at 407p.