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Shares in AIM-listed life science equipment supplier ABCAM (LON:ABC) plummeted 12.91% to 1,167p (as of 15:00 GMT) despite revenues for the six months to 31st December rising by 10.8%. EBITDA margins fell by 240 basis points and management said that they expected them to fall further during the second half of the financial year due to conditions in the Japanese market and anticipated revenue phasing.
CEO Alan Hirzel commented: “We made further progress toward achieving our long-term goals in the first half of the year and delivered double digit revenue growth whilst meeting our strategic targets. These results arise from our global team dedicating themselves to serving customer needs whilst building a strong enterprise. Together, they are helping Abcam increase its influence across research, diagnostic and therapeutic applications. We continue to invest in building a sustainable, profitable business with purpose and look forward to the impact that work will have on scientific knowledge and human health“.