Sales hike for antibody seller
Abcam plc, the Cambridge company that markets antibodies via an online catalogue, has increased sales by 60 per cent to £19.4m from £12.1m for the year to end-June.Pre-tax profits increased 65 per cent to £4.9m (2005: £3m) and EPS rose 34 per cent to 11.53p (8.6p).
The last 12 months has marked a continued expansion of Abcam's product range; at period end, 23,200 products were available on the Abcam website up 41 per cent year-on-year.
Abcam also achieved significant geographic expansion, including the opening of a new office in Japan - the world's third largest market for research antibodies behind the US and EU.
CEO Jonathan Milner said the US office had made a significant contribution in sales and profits in the year.
The company ended the trading period with net cash and short term investments of £11.9m. The board has proposed a final dividend of 2p per share.
Milner said: “Abcam has made outstanding progress throughout the financial year. We have increased
our sales and continue to place particular emphasis on our gross margins.
"We have expanded our efforts in overseas markets, particularly in US and Japan, so as to improve our geographical reach