25th Jan 2016 07:56
LONDON (Alliance News) - Life science research tool supplier Abcam PLC said Monday it expects to report revenue growth of around 17% for its first half, or 16.5% on a constant currency basis, driven by a strong performance from its catalogue products business.
For the catalogue products business revenue growth is expected to be around 16%, largely coming from its RabMab - or rabbit monoclonal antibodies - product.
Other revenue increased by over 30% in the half year to end-December, bolstered by improved performance in revenue and royalty streams from its in vitro diagnostics products, as well as its custom services.
Revenue growth in China was over 50%, Abcam said, which it said showed some moderation as its business in the region becomes more established, but still "well ahead" of the market growth rate in the territory.
"We maintained strong revenue growth in every region we serve and there is now significant momentum across the business. We have taken substantial steps over the period to broaden our offering with geographical expansion and new product ranges and have successfully launched more Abcam technology derived products with our RabMAb and Firefly technologies," said Chief Executive Officer Alan Hirzel in a statement.
Abcam will report first half results March 7.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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