Abcam Expects Good Interim Results As Most Regions Experience Growth

(Alliance News) - Abcam PLC on Monday said it expects to return to growth in the first half of ...

Alliance News 11 January, 2021 | 12:55PM
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(Alliance News) - Abcam PLC on Monday said it expects to return to growth in the first half of its financial year as all regions except for the Americas grew in the high single to double-digits.

The Cambridge-based supplier of life science research tools said it expects a revenue for the first half ended December 31 of GBP147.5 million, up 6.7% from GBP138.2 million a year prior.

In-house products represented over 55% of total revenue and grew by over 25%, the company said.

"We grew high single to double-digits in all regions other than the Americas where customer laboratory activity has been more constrained due to Covid-19," Abcam said.

Gross margin is expected to be in line with board expectations at approximately 71%, ahead of last year's 70%.

Chief Executive Alan Hirzal said: "It is great to see the business return to growth in a market environment where demand is well below normal levels. This performance gives us confidence in the long term opportunity at Abcam."

Results for the period are due on March 8.

Abcam shares were up 3.1% at 1,513.00 pence each in London on Monday afternoon.

By Greg Roxburgh; gregroxburgh@alliancenews.com

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