Abcam trades in line with expectations as lab product demand limited

(Alliance News) - Abcam PLC on Thursday said trading in the six months up to June 30 was in line ...

Alliance News 1 July, 2021 | 1:17PM
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(Alliance News) - Abcam PLC on Thursday said trading in the six months up to June 30 was in line with its expectations, as demand remains below pre-pandemic levels with laboratory capacities restricted.

Before taking into account currency movements, trading was "modestly ahead" of expectations, Abcam said. But the strengthening of the pound means that overall trading has been in line.

Shares were up 3.6% to 1,431.00 pence in London on Thursday afternoon.

The Cambridge-based company, which supplies products such as antibodies to laboratories, said it is hopeful that vaccine programmes will increase research activity and lift sales above the pre-pandemic level. Social distancing has constrained laboratory research, and thus demand for Abcam's products.

Abcam said it continued to invest in the period to "capitalise on long-term market opportunities", consistent with its five-year plan to generate profitable growth and shareholder value.

The company is in the process of changing its financial calendar to end on December 31 instead of June 30.

By Ivan Edwards; ivanedwards@alliancenews.com

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Abcam PLC 1,645.00 GBX -0.12 -

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