5th Mar 2019 11:57
LONDON (Alliance News) - Science Group PLC on Tuesday said annual profit rose on the back of increased revenue.
For 2018, the science consultant posted pretax profit of GBP4.9 million, up from GBP3.9 million a year ago. Revenue, meanwhile, rose 19% to GBP48.7 million from GBP40.8 million.
"The financial performance of the group in 2018 was in line with the board's expectations and the integration of TSG, acquired in September 2017, made good progress," Chair Martyn Ratcliffe said.
"The group retains a very strong balance sheet, including substantial freehold property assets which enable the group to include long-term debt, on attractive terms, in its capital structure. This combination provides the foundation for the year ahead and a reassuring financial stability in an unpredictable world."
Looking ahead, the company said that the new year has started "satisfactorily" across the business.
The company proposed a total 4.6 pence dividend, up from 4.4p paid to shareholders a year ago.
Science Group shares were trading down 3.4% at 202.00p each on Tuesday.
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