Trading update
Summary by AI BETAClose X
Abingdon Health plc
("Abingdon Health", the "Group" or the "Company")
Trading update
31% increase in full year revenues and progression to EBITDA profitability in H2
York, UK and Madison, WI, USA, 29 July 2026: Abingdon Health plc (AIM: ABDX) (OTCQB: ABDXF), a leading international developer, manufacturer and regulatory services provider for rapid diagnostic tests and med-tech, provides a trading update for the financial year ended 30 June 2026 ("FY26").
Financial Highlights and Outlook
· Strong growth in H2 and total revenue (including grant-funded income) for FY26 expected to be up 31% to £11.3m (FY25: £8.6m)
- Good commercial progress in a strong H2, despite £0.5m reader unit sales scheduled for H2 moving to August at the customer's request
- 63% increase in H2 revenue compared to H1
- H2 performance driven by significant growth in Contract Development (R&D) revenues
· Company progressed to profitability at adjusted EBITDA* level in H2
· Continued investment in Group businesses in FY26, including Abingdon Analytical and build-out of manufacturing capability at Abingdon Health USA, both of which will support future growth.
· Cash of £2.9m (30 June 2025: £1.9m)
· Board are confident of further growth in FY27, based on significant programmes previously announced and underway, with a further update to be provided on release of the Group's results for FY26.
The financial update above is provided subject to finalisation of the Group's results for FY26 which are expected to be published in early October 2026. Notice of results will be provided in due course.
*Adjusted EBITDA defined as operating profit/loss prior to the impact of depreciation, amortisation, share-based payment charges and certain non-recurring items.
Dr Chris Hand, Executive Chairman of Abingdon Health plc, commented: "We are delighted to announce revenue growth of over 30% and a move into adjusted EBITDA profitability in the second half of the year. The CDMO contracts announced during the previous financial year provide a strong foundation for significant revenue growth in FY27. Abingdon Health is well-positioned to build on this momentum through our integrated, end-to-end service offering and our growing international footprint, particularly servicing clients in the US."
Any shareholders wishing to keep up to date with Abingdon Health news, please email abingdon@walbrookpr.com
Enquiries:
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Abingdon Health plc |
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Chris Hand, Executive Chairman |
Via Walbrook PR |
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Tom Hayes, CFO |
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Cavendish Capital Markets Limited (Sole Broker and Nominated Adviser) |
Tel: +44 (0)20 7220 0500 |
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Geoff Nash / Isaac Hooper / Joe Smith (Corporate Finance) Nigel Birks (Life Science Specialist Sales) |
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Walbrook PR (Media & Investor Relations) |
Tel: +44 (0)20 7933 8780 or abingdon@walbrookpr.com |
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Paul McManus / Alice Woodings |
Mob: +44 (0)7980 541 893 / +44 (0)7407 804 654 |
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The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the EU Market Abuse Regulation (596/2014) as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended. Upon the publication of this announcement via a regulatory information service, this information is considered to be in the public domain.
About Abingdon Health
Abingdon Health Group is a leading med-tech contract service provider offering its services to an international customer base.
The Group's CDMO (Contract Development and Manufacturing Organisation) expertise offers lateral flow product development, regulatory strategy 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 has the internal capabilities to take lateral flow projects, in areas such as infectious disease and clinical testing, including companion diagnostics, animal health and environmental testing, from initial concept through to routine manufacturing; from idea to commercial success.
Abingdon's regulatory services companies, Compliance Solutions (Life Sciences) and IVDeology, provide a broad range of regulatory services to the in vitro diagnostic and wider medical device industry, to support customers in bringing products to market across a range of territories including the USA, EU and the UK. Its consultancy services range from design, implementation and maintenance of quality management systems, preparation of technical files for regulatory approvals, part-time and interim management support, auditing both internal and external, management reviews and presentations, training and mentoring. The Company's subsidiary, Abingdon Analytical Ltd, offers analytical testing and performance evaluation to generate the required technical and data for regulatory approval for lateral flow and other in vitro diagnostic assays from its Doncaster, England facilities.
Founded in 2008, Abingdon Health is headquartered in York, England with laboratories in Doncaster, England and laboratories and commercial offices in Madison, Wisconsin, USA.
Abingdon Health's brochures outlines the comprehensive support the Group can now provide to its international customers. For more information visit: www.abingdonhealth.com.
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