Abcam reports strong growth in 1H ‘09/10; 2H matches expectations so far
Abcam plc, the Cambridge-based bioscience firm that markets antibodies online, reported a 38% increase in sales to £31.8m and 64% rise in pretax profit to £11.2m in the half year to end December 2009.
Sales increased 25% in constant currency terms.
The company said it was doubling its interim dividend to 5.42p per share; its strategy is now to pay a higher proportion of the full year dividend at the interim stage.
Its online catalogue grew by 21.1% to 57,960 products.
CEO Jonathan Milner said: "The demand for products, such as antibodies, in the rapidly expanding protein detection and regulation markets continues apace and Abcam is well positioned to capitalise on its expertise in these areas.
"I am pleased to report that trading so far in the second half of the financial year has been in line with expectations. This is encouraging, although it is still too early to assess what impact if any there will be on our trading as governments and companies across the world deal with the legacy of the recession."
The company's share price gained almost 2% on the news, edging its market capitalisation to almost £400m.
