Abcam, the Cambridge based online antibody supplier, announced that sales and profitability have continued to increase at a rapid rate. Sales for the six months to December 31st 2010 increased to £39.4 million (H1 FY2009/2010: £31.8 million), as the company increased the number of primary antibody products in its online catalogue, as well as increase the number of secondary antibodies and other products (the overall number of products has grown 19% to c. 69,000).

Sales were strong in the company’s core North American market at £17.7 million (H1 FY2009/10 £13.9 million), with good progress on the West Coast after the opening of its San Francisco office. Europe and Japan also experienced double digit sales growth. China and Hong Kong grew by 43% from a smaller base. The UK lagged behind most other markets, only growing by 9.5% as uncertainty with regard to public research budgets was pervasive.

Pre-tax profit increased to £15.2 million (H1 FY 2009/10: £11.2 million). Diluted EPS increased to 6.01p (H1 FY 2009/10: 4.55p). Cash flow was strong, increasing to £15.2 million (H1 FY 2009/10 £12.5 million).

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