8 Nov 2013 07:00
For immediate release 8 November 2013
ABCAM PLC
("Abcam" or "the Company")
AGM Statement
Cambridge, UK: Abcam plc (AIM: ABC), a global leader in the supply of innovative protein research tools to help life scientists discover more, is holding its Annual General Meeting this morning.
At the meeting Michael Redmond, Abcam's Chairman, will make the following statement:
"As previously announced, we are embarking on a number of initiatives within Abcam to sustain profitable growth in the medium to longer term. I am pleased to report that we are making good progress on these, with some initiatives already underway.
"In the US, which is our largest market, we are pleased that the revenue from catalogue sales continues to grow in line with our expectations despite the recent disruption in the market caused by the protracted budget discussions and Government shutdown; although our business may be impacted by further potential disruption later in the financial year pending a continuation of those discussions. The exception in our US performance has been our custom service business where we have revised down our revenue expectations, although, given its small scale, this will not impact materially on Group profitability.
"Looking forward we expect market conditions to remain challenging. Nevertheless the Board believes that Abcam is well positioned to deliver continued growth and to meet its strategic objectives for the year."
For further information please contact:
Abcam | + 44 (0) 1223 696000 |
Jonathan Milner, Chief Executive Officer Jeff Iliffe, Chief Financial Officer www.abcam.com | |
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Numis Securities - Nominated Advisor and Joint Broker | + 44 (0) 20 7260 1000 |
Michael Meade / Freddie Barnfield - Nominated Advisor James Black - Corporate Broking | |
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Peel Hunt LLP - Joint Broker | + 44 (0) 207 418 8900 |
Andy Crossley - Corporate Broking | |
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Buchanan | + 44 (0) 20 7466 5000 |
Mark Court / Fiona Henson / Sophie Cowles |
Notes for editors:
About Abcam plc
Abcam plc is a leading provider of protein research tools and services, with a wide range of products and expert technical support, enabling scientists to analyse living cells at the molecular level to improve the understanding of health and disease.
Abcam is committed to providing scientists with access to the correct reagents and tools for their research. The Company's catalogue currently comprises more than 126,000 products and is continually evolving to meet customer needs. The range offered includes primary and secondary antibodies, proteins, peptides, lysates, biochemicals, immunoassays and other kits. Abcam products are supported with detailed, up-to-date and unbiased data on our website.
Headquartered in Cambridge, UK, Abcam has eight global subsidiary offices and ships to over 130 countries. The Company was founded in 1998, and now employs over 700 people. Abcam is quoted on the AIM market of the London Stock Exchange (AIM: ABC).
To find out more, please visit www.abcam.com