Abzena announced a disappointing business update, indicating revenues for each of its service lines have been below expectations. This has an impact on H118 revenues, which the company now expects to be broadly in line with H117. Abzena has, however, indicated that there is good order cover and high engagement for new business and therefore expects H2 to be significantly stronger. We have reduced our forecasts and valuation to £110m (vs £160m) or 52p/share (vs 75p) following a rev
20 Sep 2017
- Disappointing trading update but outlook positive
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- Disappointing trading update but outlook positive
Abzena (ABZA:LON) | 0 0 (-0.9%) | Mkt Cap: 54.0m
- Published:
20 Sep 2017 -
Author:
Dr Linda Pomeroy -
Pages:
3
Abzena announced a disappointing business update, indicating revenues for each of its service lines have been below expectations. This has an impact on H118 revenues, which the company now expects to be broadly in line with H117. Abzena has, however, indicated that there is good order cover and high engagement for new business and therefore expects H2 to be significantly stronger. We have reduced our forecasts and valuation to £110m (vs £160m) or 52p/share (vs 75p) following a rev