12th Oct 2020 12:21
(Alliance News) -Â Science Group PLC on Monday said it anticipates profit this year will exceed prior expectations.
Following its trading update a month ago, revenue across the Cambridge-based scientific consultancy services firm has continued to be at the higher end of internal expectations.
"In particular, the performance of Frontier is noteworthy in terms of both revenue and, due to an enhanced product mix, an improved operating margin," said Science Group.
Frontier Smart Technologies has exceeded expectations in its first year post-acquisition, the company said.
Thus, it is "now apparent" that adjusted operating profit for 2020 will exceed expectations as set out at the start of the year.
Looking to 2021, Science Group said it will continue its "prudent" operating model and maintain its primary focus on cash flow.
"This model, which is consistently implemented in every acquisition, has delivered resilient performance over the past decade, even during the pandemic," the company said.
Shares in Science Group were up 3.6% at 243.50 pence in London on Monday.
By Lucy Heming;Â [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Science Group