Life science research tools supplier Abcam said it expected to report lower revenue for the year amid falling demand in the second half of the year. For the year ended 30 June 2020, revenue was expected to fall 1% to £260.0m. 'We have seen a reduction in demand as research laboratories globally shut down temporarily or reduced activity over the course of the second half of the year,' the company said. The company expected that gross margin and adjusted operating margin for the full year will be approximately 69% and 16-to-17% respectively. The company said that while revenue had improved following the easing of lockdown restrictions, there were significant macro uncertainties and regional differences remain. 'This uncertainty is acute in North America where case incidence of COVID-19 is currently rising in several US states with normally high research activity,' it added. At 10:03am: (LON:ABC) Abcam PLC share price was -77.5p at 1331.5p
Sign up to our
Subscribe to the latest investing news by entering your email address below
You can opt out at any time.
For five days a week you will get
- The latest company news
- Insight into investment trends
- Round-up of director's buys and sells
- Articles from Shares magazine
Plus more useful investment content and occasional promotional offers.
UK 350 Risers and Fallers
Tweets not available.