Business
Half-year Report
Half-year Report.
About this update from Abingdon Health Plc
[{"type":"text","content":"\n\nAbingdon Health plc\n(\"Abingdon\" or \"the Company\" or \"the Group\")\n \nInterim Results for the six months ended 31 December 2024\n \nYork, U.K - 24 March 2025: Abingdon Health plc (AIM: ABDX), a leading international developer, manufacturer and distributor of high quality and effective rapid tests, announces its unaudited interim results for the six months ended 31 December 2024 (\"H1 2025\").\n \nOperational Highlights (including post-period end)\n· Expansion of integrated contract development and manufacturing organisation (\"CDMO\") service offering with:\no Acquisition of regulatory service provider CS Lifesciences in August 2024 for a maximum consideration of up to £3.2 million in cash and shares\no Opening of Abingdon Analytical laboratory in Doncaster in December 2024\no Opening of US CDMO service site, including a commercial office and laboratory, in Madison, Wisconsin, due to be fully operational by April 2025\n· Integration of Compliance Solutions (Life Sciences) well underway and recent contract wins, including one for >£500k, underpins significant growth potential in 2025 and beyond. This contract has since been extended with anticipated revenue from the contract anticipated to be >£1m over 2025 and into FY2026\n· Continued growth of contract service activities with a number of key projects contracted during H1 2025 which will impact in H2 2025 and beyond including contract win for $2m for development of sexually transmitted disease tests over calendar year 2025.\n· Product revenue growth supported by expansion (post-period-end) into Germany, Poland and Austria with distribution of own-branded version of the saliva pregnancy test Salistick™\n· Product development well underway with planned launch of sustainable pregnancy and ovulation tests in US calendar Q1 of calendar year 2026\n· Award of £800,000 (post-period-end) via UKRI alongside partners to develop lateral flow tests (LFT) for malaria.\n \nFinancial Highlights\n· Successful placing and retail offer in August 2024 raising £5.2m net of expenses\n· Revenue of £3.1m for H1 2025 (H1 2023: £2.4m) representing growth rate of 28.4%:\n§ Lateral Flow CDMO revenues accounted f...