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Abcam sees annual revenue growing 11% amid strong performance in China

By BFN News | 08:32 AM | Monday 22 July, 2019


Life science research tool supplier Abcam said it expected to post an 11% rise in annual revenue, supported by strong sales in China. Revenue for the year through June was seen rising to £259.9m, up from £233.2m on-year. In constant currency terms, revenue would grow by 9.2%. Catalogue revenue, representing about 93% of the total, grew by 12%, with all regions and product categories growing faster than underlying market growth rates. Revenue in China grew faster than market at over 20% in the year and represented over 15% of total company sales. Abcam said it expected its gross margin to be ahead of last year and its adjusted Ebitda margin to be in line with its expectations. At 8:32am: (LON:ABC) Abcam PLC share price was -120p at 1285p Story provided by StockMarketWire.com

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