Abcam PLC - Cambridge, England-based life science research tools - Expects first half revenue to grow 23% to about GBP185 million.
"Revenue growth continues to be driven by in-house catalogue sales resulting in gross margin expansion. As the multi-year period of growth investments begins to moderate, we anticipate delivering operating efficiencies enabling year-over-year adjusted operating profit margin expansion consistent with the board's expectations," company says.
For 2022, guides for revenue rise about 20%. In 2021, sees revenue at GBP315.4 million.
Also notes plans to pursue a sole listing on Nasdaq and cancel its AIM listing in London.
Adds: "The company will continue to consult with shareholders on this proposal in the coming weeks with the intention to put the proposal to shareholder approval at a general meeting called for that purpose later this year."
Current stock price: 1,139.00 pence, up 1.9% in London on Wednesday
12-month change: down 9.6%
By Paul McGowan; paulmcgowan@alliancenews.com
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