ABC.L Regulatory News (ABC)

25 July 2016

ABCAM PLC

("Abcam" or "the Company")

Pre-Close Period Update

Delivering close to 16% sales growth, whilst investing for the future

Cambridge UK: Abcam plc (AIM: ABC), a global leader in the supply of life science research tools, announces the following update for the year ended 30 June 2016 ahead of the publication of its financial results on 12 September 2016.

The Board is pleased to report another successful year in which the business has once again achieved above market revenue growth. These results give us confidence that our strategy is working as we invest to attract and retain consumers to Abcam.

Group revenue is expected to have grown at close to 16%[1] on a constant currency basis and over 19% on a reported basis.

Constant currency growth in catalogue revenues was over 14%, with RabMAb® product revenues growing by over 29% and exceeding our full year guidance of 15%-20% for this product group. This outcome reflects the combined benefits of our high quality products, strong customer service and digital marketing. Led by our kits and assays business, non-primary antibody revenues grew at 30%, which is at the top end of our guidance for revenue growth of 25-30%.

Performance in China continued at above market levels with growth of catalogue revenues of over 40%. We continue to enhance the services we provide to Chinese researchers, and we are benefiting from the recent investment arising from the Chinese Government's latest five-year funding plan.

Other revenues, which represented approximately 7% of the total for the period, increased by almost 40%. This result includes approximately £1.5m of royalty and other income which is not expected to recur in the coming year.

Reported gross margin is expected to be close to that reported last year, with a slight reduction due to exchange rate movements.

There has been no immediate impact on the Company's day-to-day operations following the UK's referendum vote to leave the European Union. However, continued weakness of Sterling against the currencies in which the Group trades would be positive for revenues and profitability. Our policy is to hedge a material proportion of estimated net foreign currency cashflows, on a rolling basis. Consequently, the earnings benefit of weak Sterling will be limited in the 2017 financial year.

Our on-going programme of investment in our systems, facilities, processes and people to ensure that we have the infrastructure to support the continued growth of the business, is on track and we will provide a fuller update on progress at the full year.

Alan Hirzel, CEO, commented:

"Abcam continues to grow into an influential global life science business. I am pleased we have sustained above market growth performance as we implement our multi-year growth strategy. These successes empower us to make significant investments in systems, facilities, processes and people to continue to build the infrastructure that ensures our business is well positioned to deliver."

##Ends##

[1] Except where otherwise indicated, all revenues are provided on a constant currency basis.

For further information, please contact:

Notes for editors:

About Abcam plc

As an innovator in reagents and tools, Abcam's purpose is to serve life science researchers globally to achieve their mission, faster. Providing the research and clinical communities with tools and scientific support, the Company offers highly validated biological binders and assays to address important targets in critical biological pathways.

Already a pioneer in data sharing and ecommerce in the life sciences, Abcam's ambition is to be the most influential company in life sciences by helping advance global understanding of biology and causes of disease, which, in turn, will drive new treatments and improved health. Two-thirds of the world's 750,000 life science researchers use Abcam's affinity binders, reagents, biomarkers and assays and the Company's products are mentioned in over 20,000 of the 56,000 peer-reviewed papers published each year in the life sciences.

By actively listening to and collaborating with researchers, the Company continuously advances its portfolio to address their needs. A transparent programme of customer reviews and datasheets, combined with an industry-leading validation initiative, gives researchers increased confidence in their results.

Abcam's ten offices are located in the world's leading life science research hubs, enabling local services and multi-language support. Founded in 1998 and headquartered in Cambridge, UK, the Company sells to more than 100 countries. Abcam was admitted to AIM in 2005 (AIM: ABC).

To find out more, please visit www.abcam.com and www.abcamplc.com

Forward looking statement

This announcement, including any information included or incorporated by reference in this announcement, may contain forward-looking statements (including words such as "believe", "expect", "estimate", "intend", "anticipate" and words of similar meaning) which are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Abcam Group. All statements other than statements of historical facts may be forward-looking statements and should not be treated as guarantees of future performance. These forward-looking statements involve risks and uncertainties, many of which are beyond the control of the Abcam Group, and there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These forward-looking statements speak only as at the date of this announcement and accordingly undue reliance should not be placed on such statements. The Abcam Group does not assume any obligation to, and does not intend to, revise or update these forward-looking statements, except as required pursuant to applicable law.