LONDON, Sept 9 (Reuters) - Online antibody sales company Abcam Plc reported
on Tuesday annual sales and adjusted pretax profits rose almost 50 percent,
helped by strong demand, and said it expected similar growth in coming years.
"Looking at the next few years I think we're looking at a very exciting time
for Abcam of consistent really strong growth like we've seen this year," Chief
Executive Jonathan Milner told Reuters.
Sales in the year ending June rose 49.7 percent to 36.7 million pounds
($65.47 million), and adjusted pretax profits soared 48.2 percent to 8.2
million.
Three analysts had expected the company to report sales of between 33.90
million pounds and 36.50 million and pre-exceptional pretax profits of between
6.4 million pounds and 7.16 million, according to Reuters Estimates.
Milner ascribed the growth to the company meeting growing demand for
antibodies and being well positioned in the market.
Abcam shares were up 5.26 percent at 461.1 pence at 0938 GMT, off an earlier
high of 490 pence.
Numis Securities said after the results it would upgrade its forecasts, and
now sees sales of 46 million pounds and pretax profits of 11 million pounds for
2009.
"We see room for further outperformance as the year progresses, particularly
if sterling's weakness persists," it said.
The company lifted its final dividend by 42.9 percent to 4.56p per share,
making a total dividend for the year of 5.6p.
(Reporting by Ben Deighton; editing by Sue Thomas) ($1=.5606 POUND)
Keywords: ABCAM/
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