RNS Number : 5824V
16 January 2012
For immediate release 16 January 2012
("Abcam" or "the Company")
Half Year Trading Update
Abcam plc (AIM: ABC), a global leader in the supply of protein research tools, announces the following trading update ahead of its results for the six months ended 31 December 2011.
Our business is performing well, driven by our strategy of providing a broadening range of high quality products and support to the global protein research community. Revenues for the six months to December 2011 increased by approximately 13.5% compared with the corresponding period in the 2011 financial year.
Furthermore continued tight cost control and some exchange rate benefit has enabled us to improve both gross and operating margins (before the acquisition costs of Ascent Scientific and the amortisation of acquisition related intangible assets).
Our online catalogue grew significantly both in primary antibodies and in our new product areas and comprised 81,818 products at 31 December 2011, an increase of 18.3% on 31 December 2010. In addition, all 477 small molecule products from Ascent Scientific were launched on our catalogue last week under the brand name Abcam Biochemicals.
Consequently the Board is pleased to report that the Company continues on track to meet our profit expectations for the full year.
For further information please contact:
Abcam + 44 (0) 1223 696000
Jonathan Milner, Chief Executive Officer
Jeff Iliffe, Chief Financial Officer
Numis Securities + 44 (0) 20 7260 1000
Michael Meade / Nick Westlake - Nominated
James Black - Corporate Broking
Buchanan Communications + 44 (0) 20 7466 5000
Mark Court / Jessica Fontaine
Notes for editors
About Abcam plc
Abcam is a producer and distributor of high quality protein research tools. These tools enable life scientists to analyse components of living cells at the molecular level which is essential in understanding health and disease.
Headquartered in Cambridge (UK), Abcam has subsidiary offices in Bristol (UK), Cambridge, MA. (USA), Eugene, OR. (USA), Tokyo (Japan) and Hong Kong (China) allowing it to serve a global customer base in over 85 countries. Abcam employs over 340 staff across its six operating companies.
At 31 December 2011 Abcam had an online catalogue of 81,818 products sourced from more than 300 suppliers. The catalogue includes a growing range of non-primary antibody products such as secondaries, proteins, peptides, lysates, immunoassays and other kits. Products are available for life science research and distributed to academic and commercial users. A highly developed e-commerce platform, which includes regional websites for the Chinese and Japanese markets, allows customers to access up-to-date and detailed technical product data sheets at the Company's website www.abcam.com.
Abcam was admitted to AIM in November 2005 and trades under the ticker symbol ABC. The Company's vision is to be the leading provider of protein research tools globally.
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