Double-digit earnings growth for fast-growing Abcam
A 26.5 per cent rise in revenue – 10 per cent on a constant currency basis – has further bolstered fast-growing Abcam, the Cambridge life science research tools supplier.
Double-digit earnings growth reported by the company is enabling continued investment to underpin sustained future expansion, Abcam reports with its preliminary results for the year ended June 30.
Total revenue increased 26.5 per cent on a reported basis to £217.1 million and the 9.9 per cent hike on a constant exchange rate basis met Abcam’s full-year guidance.
Profit before tax on a reported basis was £51.9m up from £45.4m year-on-year. Abcam had closing cash, equivalents and term deposits of £84.8m – up from £70.7m the previous year.
The board is proposing a full-year dividend increase of 14 per cent to 10.18 pence per share.
CEO Alan Hirzel said: “It has been a year of progress for Abcam as we have once again delivered on our financial goals. We have delivered 10 per cent constant currency revenue growth, meeting our full year guidance, while continuing to invest in the long-term future of the company.
“We look forward to continuing to expand our business as we move toward our ambition of becoming the most influential life sciences company for the research communities globally.”