Life science research company Abcam guided full-year earnings lower despite reporting Monday that profit before tax increased by a third driven by recombinant antibody and Immunoassay revenues.

The company expects a lower full-year adjusted earnings (Ebitda) margin of about 36% as a result of increased investment in strategic initiatives.

For the 12 months to 30 June, reported profit before tax rose 33.1% to £69.1m and revenue rose 7.4% at actual exchange rates.

Earnings (Ebitda) rose 15.9% to £81.7m.

Revenue was supported by a 22% rise in recombinant antibodies and a 25% rise in immunoassays revenues, while China growth rose 26.0%. The company's custom product & licencing business also returned to growth.

The company proposed a final dividend of 8.58p, up from 7.36p, taking the proposed total annual dividend to 12.00p a share, an increase of 17.9%.

'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 Alan Hirzel, Abcam's Chief Executive Officer.


At 8:26am: (LON:ABC) Abcam PLC share price was -326.5p at 1157.5p