- Lift science research tools provider Abcam warned on revenue as government imposed lockdown measures to curb the Covid-19 outbreak were beginning to hurt its performance in North America and EMEA.

The group estimated that as a result of the impact of Covid-19, revenue for 2020 as of 17 April 2020, was approximately £14-to-16m lower than planned.

'Policy actions taken by governments around the world to limit the spread of COVID-19 have begun to have an effect on customers in other markets, including across North America and EMEA,' the company said,.

The company, however, did offer investors some hope, noting that it had begun to see the reopening of labs in certain countries within Europe over the last few days, and a gradual increase in customer activity and revenue as a result.

Abcam had not furloughed any staff, nor participated in any of the other Covid-19 related government assistance schemes that had been implemented globally.

The company insisted its balance sheet was 'strong,' with net cash of approximately £80m and a £200m revolving credit facility providing additional flexibility.

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