logo-loader
viewAbcam

Abcam on track to meet its full-year target after posting top line growth of 11% in the first half

The company specialises in supplying antibodies and immunoassays to the life sciences research sector

researcher filling vials
The company continued to gain market share

Abcam PLC (LON:ABC), which supplies antibodies for research, said it is on track to meet its full-year 2019 financial targets after posting double-digit first-half growth.

In an update, it said revenues grew by 11% on a reported basis or 10% at constant at currencies.

READ: Abcam shares tumble as outlook misses expectations despite double-digit earnings growth in full year

Abcam said it continued to gain market share in the global research market, particularly in the areas of recombinant antibodies and immunoassays. Expansion in China has also helped underpin its success.

"Global demand is strong for precision life science tools and Abcam has once again gained market share in these growing markets.  Our business is on track to achieve double-digit growth for the year,” said chief executive Alan Hirzel.

"During the half, we have continued to focus on improving our service for customers.

“We have further developed our product portfolio and we have continued to enhance our organisational capabilities to support our ambition of becoming the most influential company for life scientists, supporting research, diagnostic and therapeutic discovery."

Quick facts: Abcam

Price: 1414 GBX

AIM:ABC
Market: AIM
Market Cap: £3.06 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Xpediator PLC's CFO Robert Ross and COO of Logistics Romania to step up as...

Xpediator PLC's (LON:XPD) CFO Robert Ross speaks to Proactive's Andrew Scott following the news chief executive Stephen Blyth will step down from the position. Blyth will continue as a director in the position of founder and non-executive deputy chairman. While the search for a permanent...

1 day, 6 hours ago

2 min read