Revenue is on the rise at Abingdon Health, a York-based developer, manufacturer and distributor of rapid tests, after a positive start to the firm’s new financial year, which included the acquisition of CS Lifesciences.
Revenue reached £3.1m, according to unaudited interim results for the six months ended 31 December 2024 (H1 2025), increasing from £2.4m in the same period of the prior year. Pre-tax losses, meanwhile, expanded to £2.6m from £1.2m.
The period saw the opening of the Abingdon Analytical laboratory in Doncaster and a US CDMO service site in Madison, Wisconsin, which is due to be fully operational by April 2025.
The company noted that a stronger revenue performance is expected in the second half of its financial year, due to the impact of a number of new contracts, a full period contribution from CS Lifesciences, and the typical “seasonality” of the business.
Chris Hand, Executive Chairman at Abingdon Health, said: “FY 2025 has started very positively for Abingdon as we continued our momentum in executing key strategic milestones such as the acquisition of CS Lifesciences, the opening of Abingdon Analytical in Doncaster, and the commencement of work on our new US site in Madison which is set to be completed in April.
“Following some temporary headwinds during H1 2025, we were pleased to see growing contract momentum towards the end of the period and into H2, including a $2m contract developing sexually transmitted disease tests. Importantly, that contract utilises each limb of our business, highlighting our ability to provide an integrated, end-to-end solution for our global customer base.
“We believe we now have the foundations in place to build a sustainably profitable company. We are continuing to progress towards achieving our key goal of cashflow breakeven, which we expect to reach during calendar year 2026, without the need for further funding.”
