Financial highlights
Total revenue growth of 30.4% on a reported basis to £102.5m (H1 2016: £78.6m) and 10.0% on a constant currency basis
Catalogue revenue growth of 31.2% on a reported basis to £95.6m (H1 2016: £72.9m) and 10.7% on a constant currency basis
o RabMAb® revenues grew by 50.0% to £19.2m on a reported basis and by 26.6% on a constant currency basis
o Non-primary antibody revenues grew by 37.1% to £19.5m on a reported basis and by 15.6% on a constant currency basis
Reported gross margin of 69.7% following the reclassification of certain expenses from operating expenses to gross margin. On a like-for-like basis, gross margin was 70.7% (H1 2016: 69.3%)
EBITDA margin of 34.5% (H1 2016: 32.5%) and 35.1% (H1 2016: 34.5%) on an adjusted basis2
Reported operating margin of 27.6% (H1 2016: 26.8%) and adjusted3 operating margin of 31.2% (H1 2016: 30.7%). Profit before tax (PBT) on a reported basis was £25.1m (H1 2016: £20.9m) and £32.1m (H1 2016: £24.3m) on an adjusted basis4
Reported diluted earnings per share (EPS) increased by 16.3% to 9.72 pence (H1 2016: 8.36 pence). Adjusted5 diluted EPS increased by 33.4% to 12.86 pence (H1 2016: 9.64 pence)
Interim dividend increased by 20.0% to 2.825 pence (2016: 2.354 pence)
