ABCAM shares rise after positive update

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ABCAM shares rise after positive update
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AIM-listed life science tools supplier ABCAM (LON:ABC) expects revenues for the six months ended 31st December to be 11% higher than those in the prior year and said that it is on track to meet full-year expectations. Market share is continuing to expand due to strong performances in immunoassays and recombinant antibodies as well as expansion in China.

CEO Alan Hirzel commented: “Global demand is strong for precision life science tools and Abcam has once again gained market share in these growing markets. Our business is on track to achieve double-digit growth for the year.

“During the half we have continued to focus on improving our service for customers. We have further developed our product portfolio and we have continued to enhance our organisational capabilities to support our ambition of becoming the most influential company for life scientists, supporting research, diagnostic and therapeutic discovery.

The share price of ABCAM climbed by 4.01% to 1,194p (as of 13:20 GMT).

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