On July 20, 2022 Abcam plc ("Abcam", "Company", "Group") (AIM: ABC; Nasdaq: ABCM), a global leader in the supply of life science research tools, reported that following trading update for the six-month period ending 30 June 2022 (Press release, Abcam, JUL 20, 2022, View Source [SID1234616798]). The Company will release its full results for the six-month period on 12 September 2022.
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The Group expects to report total revenues for the six-month period of approximately £185 million, representing 19% growth (including Biovision) at constant exchange rates (CER)[1] and 23% on a reported basis.
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.
CY2022 GUIDANCE
The Group continues to anticipate total CER revenue growth of approximately 20% (including BioVision) with mid-teens organic CER revenue growth.
SHARE TRADING, LIQUIDITY AND LISTING
Having consulted with shareholders on options to increase share liquidity as announced on 14 March 2022, the Board has decided to pursue a proposal to maintain a sole listing on Nasdaq and therefore to cancel the admission of the Company’s shares to trading on AIM. 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.
This trading update is based upon unaudited management accounts and has been prepared solely to provide additional information on trading to the shareholders of Abcam plc. All figures are provisional and subject to further review. It should not be relied on by any other party for other purposes.