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BUZZ-Abcam Plc: Names new CEO, reports rise in full-year revenue

Reuters - UK Focus

** British biotechnology company Abcam Plc (Other OTC: ABCZF - news) 's shares rise as much as 7.6 pct to their highest in six months after the company reports a 4.7 pct rise in full-year revenue and appoints Alan Hirzel as its CEO.

** Biggest riser on FTSE AIM 100 index.

** Hirzel was chief marketing officer and a board member since January.

** "Alan's in-depth analysis of Abcam's opportunities appears to have re-invigorated the business, and as such he seems the right choice to lead the company as ex-CEO Jonathan Milner steps back to take Deputy Chairman role," Numis analysts said in a note.

** Abcam's full-year revenue rises 4.7 pct to 128.0 million pounds, while operating profit increases to 43.3 million pounds from 42.8 million pounds a year earlier.

** The biotechnology company also announces a 10.1 pct higher dividend of 7.75 pence per share