ABCAM PLC - Full Year Trading Update
Full Year Trading Update
As previously communicated, due to the ongoing COVID-19 pandemic we have seen a reduction in demand as research laboratories globally shut down temporarily or reduced activity over the course of the second half of the year. We continued to serve the needs of laboratories that remained open, but due to these actions revenue in the second half of the year declined by approximately 10% on both a reported and constant currency basis. Overall, the Group expects to report revenues of
As reported on
We continue to see improvement in demand, but significant macro uncertainties and regional differences remain. This uncertainty is acute in
The Board and executive team have continued to support employees with full employment during the COVID-19 outbreak whilst investing in and implementing initiatives for our growth strategy. As a result, we expect that gross margin and adjusted operating margin for the full year will be approximately 69% and 16-17% respectively.
With the attractive potential from the Group's long term growth strategy, we have also begun exploring a potential secondary listing in
In September with the full year results, the Group will provide a full update on the strategic growth programmes and its financial performance.
"We are proud of the role
Analyst and Investor Conference Call
A conference call for analysts and investors will be held at 10.00 BST, today. To participate in this call, please contact
The Group will report its Full Year Results for the twelve-month period ended
This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.
This announcement shall not constitute an offer to sell or solicitation of an offer to buy any securities.
This announcement is not an offer of securities for sale in
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This trading update is based upon unaudited management accounts and has been prepared solely to provide additional information on trading to the shareholders of
(1) 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 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 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 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.
(2) Except where otherwise indicated, all revenues are provided on an unaudited, constant currency basis.
As an innovator in reagents and tools,
Already a pioneer in data sharing and ecommerce in the life sciences,
Founded in 1998 and headquartered in
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Quick facts: Abcam
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