Abingdon Health CEO discusses strong interim results, robust pipeline and growth strategy
London, UK
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March 18, 2024 07:10 AM Eastern Daylight Time
Abingdon Health PLC (AIM:ABDX) CEO and co-founder Chris Yates discusses the company's interim results and business operations in an interview with Proactive's Stephen Gunnion.
Abingdon Health is a lateral flow, contract development, and manufacturing organisation (CDMO), supporting customers from product ideation to commercial success. It offers services including development, scale-up manufacturing, regulatory and analytical laboratory provision, and packaging.
Yates said a 117% revenue increase to £2.4 million during the interim period was primarily driven by its CDMO division. This growth was attributed to increases in development, operational revenues, and the emergence of regulatory area revenues.
Despite an inflationary environment, Abingdon Health managed to maintain stable operating costs, resulting in improved gross margins to over 50%.
The company has a robust opportunity pipeline with 29 ongoing projects, emphasizing its fully integrated solution's appeal to customers. Yates also highlighted a good start to the second half of the year, with revenues expected to grow significantly while controlling costs to enhance operating profit performance.
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