Abcam (AIM: ABC) No reason to worry about UK market caution
The rapidly growing bioscience company that markets antibodies via its own online catalogue issued a pre-close trading update ahead of its results for the six months ending 31 December 2010.Trading since the AGM is in line with ‘management’s’ expectations but....
The business has performed well, notably in largest geographic market, North America. Unfortunately sales growth in the UK has been somewhat restrained owing to uncertainty caused by the recent UK Government spending review. However, management states that effective cost control processes have ensured that margins remain strong – it’s a simple business model that works perfectly Management commented that the possible impact on publicly funded research projects, continue to merit a degree of caution, but they remain confident in the outlook for the full year. The Company will report its interim results for the six months ending 31 December 2010…