TIDMABC
RNS Number : 3793U
ABCAM PLC
12 July 2018
12 July 2018
ABCAM PLC
("Abcam" or "the Company")
Full Year Trading Update
Double-digit revenue growth delivered in FY2018
Abcam plc (AIM: ABC), a global leader in the supply of life
science research tools, announces the following unaudited trading
update ahead of its results for the year ended 30 June 2018([1])
(the "period").
Overall, we expect to report revenue growth for the year of
10.7%([2]) on a constant currency basis and 7.4% on a reported
basis. Group reported gross margin is expected to be broadly in
line with last year (FY2017: 70.1%).
Catalogue revenue grew by over 10% in the year, with all product
categories continuing to grow ahead of estimated underlying market
growth rates. Custom products and licensing revenue, which
represented over 7% of the total for the period, increased by
approximately 17.5%.
The Group expects to deliver an Adjusted EBITDA([3]) margin in
line with the Board's expectations.
Commenting on the update Alan Hirzel, CEO of Abcam said:
"I am pleased that we have once again delivered against our
ambitious financial targets in the year, driven by our continued
customer focus, innovation across our product portfolio, and the
ongoing strengthening of our organisational capabilities.
"We remain market leaders in our field and are committed to
investing in our business to sustain our growth whilst allowing us
to do more for customers, creating long-term value for all our
stakeholders. We look forward to talking more about these
initiatives alongside our full year results in September."
Abcam will report its full year results for the year ended 30
June 2018, together with an update on the Group's business,
investments and strategy, on 10 September 2018.
Abcam
+ 44 (0) 1223 696 000
Alan Hirzel, Chief Executive Officer
Gavin Wood, Chief Financial Officer
James Staveley, Head of Investor Relations
J.P.Morgan Cazenove - Nominated Adviser & Corporate Broker
+ 44 (0) 20 7742 4000
James Mitford
FTI Consulting
+44 (0) 20 3727 1000
Ben Atwell / Brett Pollard / Natalie Garland-Collins
This announcement contains inside information.
([1]) This announcement, including any information included or
incorporated by reference in this announcement, may contain
forward-looking statements (including words such as "believe",
"expect", "estimate", "intend", "anticipate" and words of similar
meaning) which are based upon current expectations and assumptions
regarding anticipated developments and other factors affecting the
Abcam group. All statements other than statements of historical
facts may be forward-looking statements and should not be treated
as guarantees of future performance. These forward-looking
statements involve risks and uncertainties, many of which are
beyond the control of the Abcam group, and there are important
factors that could cause actual results to differ materially from
those expressed or implied by these forward-looking statements.
These forward-looking statements speak only as at the date of this
announcement and accordingly undue reliance should not be placed on
such statements. The Abcam group does not assume any obligation to,
and does not intend to, revise or update these forward-looking
statements, except as required pursuant to applicable law.
([2]) Except where otherwise indicated, all revenues are
provided on an unaudited, constant currency basis.
([3]) Adjusted EBITDA is earnings before interest, tax,
depreciation, amortisation and adjusting income items. Adjusting
items include systems and process improvements costs associated
with the ERP and acquisition costs.
About Abcam plc
As an innovator in reagents and tools, Abcam's purpose is to
serve life science researchers globally to achieve their mission,
faster. Providing the research and clinical communities with tools
and scientific support, the Company offers highly validated
biological binders and assays to address important targets in
critical biological pathways.
Already a pioneer in data sharing and ecommerce in the life
sciences, Abcam's ambition is to be the most influential company in
life sciences by helping advance global understanding of biology
and causes of disease, which, in turn, will drive new treatments
and improved health. Two-thirds of the world's 750,000 life science
researchers use Abcam's affinity binders, reagents, biomarkers and
assays and the Company's products are mentioned in over 20,000 of
the 56,000 peer-reviewed papers published each year in the life
sciences.
By actively listening to and collaborating with researchers, the
Company continuously advances its portfolio to address their needs.
A transparent programme of customer reviews and datasheets,
combined with an industry-leading validation initiative, gives
researchers increased confidence in their results.
Abcam's eleven locations are located in the world's leading life
science research hubs, enabling local services and multi-language
support. Founded in 1998 and headquartered in Cambridge, UK, the
Company sells to more than 100 countries. Abcam was admitted to AIM
in 2005 (AIM: ABC).
To find out more, please visit www.abcam.com and
www.abcamplc.com
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END
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