AGM Statement

Abingdon Health PLC

15 December 2023

 

Abingdon Health plc

("Abingdon Health" or "the Company")

AGM Statement

York, U.K. 15 December 2023: Abingdon Health plc (AIM: ABDX, 'Abingdon' or 'the Company'), a leading international lateral flow contract research (CRO) and contract development and manufacturing organisation (CDMO), will hold its Annual General Meeting at 9.30 a.m. today at the Company's facilities at York Biotech Campus, Sand Hutton, York, YO41 1LZ.

Chris Yates, Chief Executive Officer, will address the meeting with the following statement: "We updated shareholders in October with our annual results to June 2023. At that time, I said that I believed Abingdon was well positioned to meet the growing demand of the lateral flow market, through both our CRO/CDMO offering, and through our complementary direct sales and distribution platform. This is proving to be the case as evidenced both by the number of customers and projects we are working with, and our continued revenue growth. We will provide a more comprehensive trading update in January 2024, but I am pleased to note that our revenue for H1 FY23/24 will be significantly higher than revenue for H1 FY22/23."

"We remain highly focused on continuing to grow our revenues and reducing our cash-burn in FY23/24 and beyond. Our ongoing priority is moving the Company to a positive cash flow position based on continued revenue growth and stringent cost control."

Enquiries

Abingdon Health plc	www.abingdonhealth.com/investors/
Chris Yates, Chief Executive Officer	Via Walbrook PR
Chris Hand, Non-Executive Chairman
Singer Capital Markets (Sole Broker and Nominated Adviser)		Tel: [phone]
Peter Steel, Alex Bond (Corporate Finance)
Tom Salvesen (Corporate Broking)
Walbrook PR Limited	Tel: [phone] or [e-mail]
Paul McManus / Phillip Marriage Alice Woodings	Mob: [phone] [phone]

About Abingdon Health plc

Abingdon Health is a leading lateral flow contract research (CRO) and contract development and manufacturing organisation ("CDMO") offering its services to an international customer base across industry sectors that include clinical, animal health, plant health, and environmental testing. Abingdon Health has the internal capabilities to take projects from initial concept through to routine and large-scale manufacturing; from "idea to commercial success."

The Company's CDMO division offers product development, regulatory support, technology transfer and manufacturing services for customers looking to develop new assays or transfer existing laboratory-based assays to a lateral flow format. Abingdon Health aims to support the increase in need for rapid results across many industries and locations and produces lateral flow tests in areas such as infectious disease, clinical testing including companion diagnostics, animal health and environmental testing. Faster access to results allows for rapid decision making, targeted intervention and can support better outcomes. 

Abingdon Health's Abingdon Simply Test™ range of self-tests is an ecommerce platform that offers a range of self-tests to empowers consumers to manage their own health and wellbeing. The Abingdon Simply Test™ ecommerce site offers consumers a range of information to support them in making informed decisions on the tests available. In addition, the site provides Abingdon's contract services customers with a potential route to market for self-tests. The Abingdon Simply Test range is also sold through international distributors and through other channels in the UK and Ireland such as pharmacy chains.

Founded in 2008, Abingdon Health is headquartered in York, England.

For more information visit: www.abingdonhealth.com

 

END