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Prices & Quotes - UK Markets - Abingdon Health (ABDX)

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Share Price:
Up 36.90p
Change Today:
0.90p
Market Cap:
35.31m
Sector:
Health Care Equipment & Services

Abingdon Health looks set to report FY underlying loss

By Iain Gilbert

Date: Tuesday 27 Apr 2021

LONDON (ShareCast) - (Sharecast News) - Abingdon Health warned on Tuesday that it looked set to post a full-year underlying loss despite stating it had continued to make progress on commercialising its AbC-19TM rapid test in the UK private sector and internationally.
The AIM-listed group said it was encouraged by ongoing commercial discussions, whilst progressing the required regulatory approvals, and would continue to advance its Tier-1 order pipeline, as outlined at the time of the interim results.

Abingdon stated its pipeline of opportunities also continued to grow and highlighted that it was building its AbC-19TM rapid test stock in order to quickly satisfy demand as orders can be confirmed.

However, although Abingdon said the opportunities and its pipeline both continued to grow, the speed of adoption and the receipt of orders was taking longer than it had originally anticipated, meaning 2021 full-year results were now on track to be "substantially below" current market expectations.

Given the level of uncertainty on the timing of AbC-19TM orders and subsequent delivery, Abingdon now anticipates revenues to be in the range of 11.4m to 17.0m, with an adjusted underlying performance between a loss of 3.3m and break-even.

"At the lower end of the revenue range this would represent revenue more than doubling, with growth of 119% compared with the prior year; and excluding any DHSC revenues in either year, this would represent revenue growth of 132%, highlighting the underlying revenue growth that the Board expects in the company's non-Covid sales in FY21," said Abingdon.

As of 0950 BST, Abingdon shares had slumped 27.64% to 58.25p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

ABDX Market Data

Currency UK Pounds
Price 36.90p
Change Today 0.90p
52 Week High 126.00p
52 Week Low 27.50p
Volume 857,344
Shares Issued 95.70m
Market Cap 35.31m
Beta 0.97

Performance Indicators

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ABDX Dividends

No dividends found

Trades for 26-Nov-2021

Time Volume / Share Price
16:35 3,370 @ 36.90p
16:29 5,397 @ 36.98p
16:27 5,402 @ 36.80p
16:24 3,365 @ 36.80p
16:23 1,000 @ 36.80p

ABDX Key Personnel

CEO Chris Henry Francis Yates
CFO Melanie Ross