TIDMABC
RNS Number : 8463D
ABCAM PLC
01 July 2021
1 July 2021
ABCAM PLC
Pre-Close Trading Update
Cambridge, UK: Abcam plc ("Abcam", "Company", "Group") (AIM:
ABC; Nasdaq: ABCM), a global leader in the supply of life science
research tools, provides the following pre-close trading update for
the six-month period ended 30 June 2021 (the "Period") ahead of its
General Meeting to be held this afternoon. As previously announced,
the Company has changed its financial year-end to 31 December. The
Company will release its full results for the six- and twelve-month
periods ended 30 June 2021 on 13 September 2021.
Since reporting interim results on 8 March 2021, underlying
trading (before the impact of FX) has been modestly ahead of the
Board's expectations and in line with expectations after currency
movements. This follows the continued appreciation of sterling
against the Group's major trading currencies(1) .
Labs continued to increase research activity throughout the last
year as constraints on social distancing were gradually lifted
around the world. Whilst we believe underlying demand is still not
yet at pre-COVID-19 levels as lab operations remain below their
normal capacity, we are hopeful that the vaccination programmes
underway and policy changes planned for the summer will further
increase research activity and support a return to full demand
levels worldwide.
Consistent with our five-year plan to generate profitable growth
and shareholder value, the Group has continued to invest in the
Period to enable it to capitalise on long-term market opportunities
and achieve the Company's financial goals through 2024.
Notes:
(1) The table below provides Group Foreign Exchange Rate data
for GBP for the six-month periods ended 30 June.
Group Average Reported
Rates
6 months ended 30(th)
June 2020 2021
USD 1.27 1.39
------ ------
EUR 1.15 1.15
------ ------
RNB 8.95 8.97
------ ------
JPY 137.7 148.7
------ ------
-------- ENDS ---------
For further information, please contact:
Abcam + 44 (0) 1223 696 000
James Staveley, Vice President, Investor Relations
Numis - Nominated Advisor & Joint Corporate Broker + 44 (0) 20 7260 1000
Garry Levin / Freddie Barnfield / Duncan Monteith
Morgan Stanley - Joint Corporate Broker + 44 (0) 207 425 8000
Tom Perry / Luka Kezic
J.P.Morgan Cazenove - Joint Corporate Broker + 44 (0) 20 7742 4000
James Mitford / Hemant Kapoor
FTI Consulting + 44 (0) 20 3727 1000
Ben Atwell / Natalie Garland-Collins
About Abcam plc
As an innovator in reagents and tools, Abcam's purpose is to
serve life science researchers globally to achieve their mission,
faster. Providing the research and clinical communities with tools
and scientific support, the Company offers highly validated
antibodies and assays to address important targets in critical
biological pathways.
Already a pioneer in data sharing and ecommerce in the life
sciences, Abcam's ambition is to be the most influential company in
life sciences by helping advance global understanding of biology
and causes of disease, which, in turn, will drive new treatments
and improved health.
In the fiscal year ended 30 June 2020, Abcam's worldwide
customer base consisted of approximately 750,000 life science
researchers. By actively listening to and collaborating with these
researchers, the Company continuously advances its portfolio to
address their needs. A transparent programme of customer reviews
and datasheets, combined with an industry-leading validation
initiative, gives researchers increased confidence in their
results.
Founded in 1998 and headquartered in Cambridge, UK, the Company
has served customers in more than 130 countries. Abcam's ordinary
shares were admitted to trading on AIM in 2005 (AIM: ABC) and its
American Depositary Shares began trading on the Nasdaq Global
Market in October 2020 (Nasdaq: ABCM).
Please visit corporate.abcam.com to find out more.
This announcement contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Any express or implied statements contained in this announcement
that are not statements of historical fact may be deemed to be
forward-looking statements, including, without limitation,
statements regarding Abcam's portfolio and ambitions, expected
performance for first and second half 2021, as well as statements
that include the words "expect," "intend," "plan," "believe,"
"project," "forecast," "estimate," "may, " "should," "anticipate"
and similar statements of a future or forward-looking nature.
Forward-looking statements are neither promises nor guarantees, but
involve known and unknown risks and uncertainties that could cause
actual results to differ materially from those projected,
including, without limitation: a regional or global health
pandemic, including the novel coronavirus and its related variants
("COVID-19"), which has adversely affected elements of our
business, could severely affect our business, including due to
impacts on our operations and supply chains; challenges in
implementing our strategies for revenue growth in light of
competitive challenges; developing new products and enhancing
existing products, adapting to significant technological change and
responding to the introduction of new products by competitors to
remain competitive; failing to successfully identify or integrate
acquired businesses or assets into our operations or fully
recognize the anticipated benefits of businesses or assets that we
acquire; if our customers discontinue or spend less on research,
development, production or other scientific endeavours; failing to
successfully use, access and maintain information systems and
implement new systems to handle our changing needs; cyber security
risks and any failure to maintain the confidentiality, integrity
and availability of our computer hardware, software and internet
applications and related tools and functions; failing to
successfully manage our current and potential future growth; any
significant interruptions in our operations; if our products fail
to satisfy applicable quality criteria, specifications and
performance standards; failing to maintain our brand and
reputation; our dependence upon management and highly skilled
employees and our ability to attract and retain these highly
skilled employees; and the important factors discussed under the
caption "Risk Factors" in Abcam's prospectus pursuant to Rule
424(b) filed with the U.S. Securities and Exchange Commission
("SEC") on 22 October 2020, which is on file with the SEC and is
available on the SEC website at www.sec.gov, as such factors may be
updated from time to time in Abcam's other filings with the SEC.
Any forward-looking statements contained in this announcement speak
only as of the date hereof and accordingly undue reliance should
not be placed on such statements. Abcam disclaims any obligation or
undertaking to update or revise any forward-looking statements
contained in this announcement, whether as a result of new
information, future events or otherwise, other than to the extent
required by applicable law.
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