LONDON (Alliance News) - Life science research tools supplier Abcam PLC Thursday said it expects to post revenue growth of over 12% for its recently ended financial year to end-June.
Abcam said its gross margins for the year are likely to be in line with those it saw in its first half, and slightly increased from its previously financial year.
The company highlighted strong growth across each of its product categories, in particular RabMAb - rabbit monoclonal antibodies - revenue rose by over 24%, ahead of the company's guidance of between 15-20%.
At constant currency it expects to post revenue up over 14%.
"I am delighted to see the business respond positively to the strategy we outlined last year. Careful investment has driven growth in revenues and profits and Abcam is well placed for this to continue. With the right IT, infrastructure and people Abcam will continue to grow rapidly by exploiting untapped sources of growth in areas we already serve as well as in new markets," said Chief Executive Officer Alan Hirzel in a statement.
Abcam will announce its full year results September 14.
Shares in Abcam are trading up 0.8% at 522.50 pence Thursday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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