14th Sep 2015 06:37
LONDON (Alliance News) - ABCAM PLC Monday reported a rise in pretax profit in its recently ended financial year, and said its new financial year has "started well", as it announced that Chief Financial Officer Jeff Iliffe plans to step down within the next year.
The life science research tools supplier reported a pretax profit of GBP46.1 million for the year to end-June, up from GBP43.6 million a year before, as a 15% rise in revenue to GBP144.0 million from GBP128.0 million was partly offset by a rise in administration and management costs partly as a result of investment in its sales, marketing, IT and eCommerce teams.
At constant currency, revenue would have risen 17%. The company saw revenue growth accelerate in all of its geographic regions except for Japan, and in China revenue was up 80%, boosted by investments the company has made in its Shanghai office. ABCAM attributed the slower growth in Japan to uncertainty in funding caused by a challenging macroeconomic situation, but said it is currently implementing initiatives in Japan which it hopes will "yield positive results" in its current year.
ABCAM proposed a final dividend of 5.92 pence, taking its total dividend for the year to 8.21 pence, up from 7.75 pence a year before.
ABCAM said that its new financial year has started well, and it is confidence in meeting its targets for the coming year.
"Through the application of our five strategic priorities we have delivered material returns in the year, exceeding our expectations and increasing the momentum behind our growth platforms. Better understanding of our consumers has allowed us to enhance our position in the core antibody market and at the same time, through investment and acquisitions, we see new markets open to us both in terms of products and new applications and by extending our geographic reach," said Chief Executive Officer Alan Hirzel in a statement.
"The 2015/16 financial year has started well and we are confident that our continued investments will continue to drive above-market sales growth," Hirzel added.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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