LONDON (Alliance News) - ABCAM PLC on Monday said its profit grew significantly in its recently ended financial year as revenue increased across all of its trading segments.
The life science research tools supplier said pretax profit grew by third in the year to the end of June to GBP69.1 million from GBP51.9 million reported a year earlier, as revenue climbed 7.4% to GBP233.2 million from GBP217.1 million. On a constant currency basis, revenue rose 11%.
The impact of foreign exchange movements in the year was GBP7.1 million unfavourable in revenue, ABCAM said.
On a divisional basis, revenue in Catalogue segment improved 7.1% to GBP216.8 million from GBP202.4 million, while Custom Product & Licensing unit revenue was 12% higher year-on-year at GBP16.4 million compared to GBP14.7 million.
ABCAM raised its annual payout by 18% to 12.00p per share from 10.18p paid the year ago.
Looking forward, the company said it continues to be strongly cash generative and reinvests money in capital projects and in the continued development of its products and services.
"It has been a good year for Abcam, delivering double-digit revenue growth on a constant currency basis and meeting all of our strategic targets," said Chief Executive Alan Hirzel.
The stock was trading 20% lower on Monday at 1,182.00 pence per share.
