Cambridge UK, 21 January 2009: Abcam plc, the rapidly growing bioscience company that markets antibodies via its own online catalogue, is pleased to report that trading for the six months to 31 December 2008 has been strong. A major feature of the period has been the continued weakness of sterling, which made a significant contribution to increasing our reported sales and gross margins.
Whilst the underlying business continues to grow in line with market expectations, the Board now believes that, in view of the above, reported profits for the full year are likely to be materially ahead of market expectations.
The Board remains confident in the prospects for continued growth, tempered only by an appreciation that even though the Company should be reasonably resilient to any downturn the threat of global recession remains a risk for every business.
The Company will report its interim results for the six months ended 31 December 2008 in the week commencing 9 March 2009.
About Abcam plc
Abcam is a producer and distributor of research-grade antibodies headquartered in Cambridge, UK, with a US office located in Cambridge, Massachusetts and a Japanese office in Tokyo. Abcam was admitted to AIM in November 2005 and trades under the ticker symbol ABC. The Company produces and distributes its own and third party produced antibodies to academic and commercial users throughout the world with product information provided and ordering available through the Company's website, www.abcam.com. The antibodies are sold under the Abcam brand name. The Company's vision is to build the largest online antibody resource in the world while also ensuring that the antibodies are of high quality and commercially viable. Abcam now has an online catalogue of over 47,000 products, most of which are antibodies, from over 250 suppliers supported by up-to-date and detailed technical data sheets, which are created by the Company. The Company currently employs over 200 staff in its three operating companies.