Shares in ABCAM fall after year-end update

The price of shares in the AIM-listed life science research tools provider ABCAM (LON:ABC) has dropped by 10.82% to 1,253p (as of 12:50 BST) despite saying that revenue growth would be 11.4% for the year ended 30th June. Management said that margins were up on the previous year and adjusted EBITDA is in line with prior guidance.

CEO Alan Hirzel commented: “Life science research and biopharmaceutical customers globally once again showed their trust in Abcam to help them achieve their research mission. This trust made it possible for our business to expand our market leadership and achieve our strategic goals.

“The prospects for Abcam remain strong and with our focus on customers, we are confident that our investments in growth are aligned to creating long-term value for all of our stakeholders“.