REG - Abingdon Health PLC - AGM Statement

Abingdon HealthAnnouncement

15/12/2023 07:00

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RNS Number : 6837W  Abingdon Health PLC  15 December 2023

 

 

Abingdon Health plc

("Abingdon Health" or "the Company")

 

AGM Statement

 

York, U.K. 15 December 2023: Abingdon Health plc (AIM: ABDX, 'Abingdon' or
'the Company'), a leading international lateral flow contract research (CRO)
and contract development and manufacturing organisation (CDMO), will hold its
Annual General Meeting at 9.30 a.m. today at the Company's facilities at York
Biotech Campus, Sand Hutton, York, YO41 1LZ.

 

Chris Yates, Chief Executive Officer, will address the meeting with the
following statement: "We updated shareholders in October with our annual
results to June 2023. At that time, I said that I believed Abingdon was well
positioned to meet the growing demand of the lateral flow market, through both
our CRO/CDMO offering, and through our complementary direct sales and
distribution platform. This is proving to be the case as evidenced both by the
number of customers and projects we are working with, and our continued
revenue growth. We will provide a more comprehensive trading update in January
2024, but I am pleased to note that our revenue for H1 FY23/24 will be
significantly higher than revenue for H1 FY22/23."

 

"We remain highly focused on continuing to grow our revenues and reducing our
cash-burn in FY23/24 and beyond. Our ongoing priority is moving the Company to
a positive cash flow position based on continued revenue growth and stringent
cost control."

 

Enquiries

 Abingdon Health plc                   www.abingdonhealth.com/investors/ (http://www.abingdonhealth.com/investors/)
 Chris Yates, Chief Executive Officer  Via Walbrook PR
 Chris Hand, Non-Executive Chairman

 Singer Capital Markets (Sole Broker and Nominated Adviser)                     Tel: +44 (0)20 7496 3000
 Peter Steel, Alex Bond (Corporate Finance)
 Tom Salvesen (Corporate Broking)

 Walbrook PR Limited                   Tel: +44 (0)20 7933 8780 or abingdon@walbrookpr.com
 Paul McManus / Phillip Marriage       Mob: +44 (0)7980 541 893 / +44 (0)7867 984 082

 Alice Woodings                        +44 (0)7407 804 654

 

About Abingdon Health plc

Abingdon Health is a leading lateral flow contract research (CRO) and
contract development and manufacturing organisation ("CDMO") offering its
services to an international customer base across industry sectors that
include clinical, animal health, plant health, and environmental testing.
Abingdon Health has the internal capabilities to take projects from initial
concept through to routine and large-scale manufacturing; from "idea to
commercial success."

 

The Company's CDMO division offers product development, regulatory support,
technology transfer and manufacturing services for customers looking to
develop new assays or transfer existing laboratory-based assays to a lateral
flow format. Abingdon Health aims to support the increase in need for rapid
results across many industries and locations and produces lateral flow tests
in areas such as infectious disease, clinical testing including companion
diagnostics, animal health and environmental testing. Faster access to results
allows for rapid decision making, targeted intervention and can support better
outcomes.

 

Abingdon Health's Abingdon Simply Test™ range of self-tests is an ecommerce
platform that offers a range of self-tests to empowers consumers to manage
their own health and wellbeing. The Abingdon Simply Test
(http://www.abingdonsimplytest.com) ™ ecommerce site offers consumers a
range of information to support them in making informed decisions on the tests
available. In addition, the site provides Abingdon's contract services
customers with a potential route to market for self-tests. The Abingdon Simply
Test range is also sold through international distributors and through other
channels in the UK and Ireland such as pharmacy chains.

 

Founded in 2008, Abingdon Health is headquartered in York, England.

For more information visit: www.abingdonhealth.com
(http://www.abingdonhealth.com/)

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