18th Jun 2024 12:27
(Alliance News) - Science Group PLC on Tuesday forecast higher first half adjusted operating profit after a resilient performance in the financial year to date.
Science Group is a Cambridge, England-based science, engineering and technology business, providing services to the medical, defence, industrial, food & beverage and consumer sectors.
Shares in the company were up 4.0% to 444.20 pence in London on Tuesday at midday.
Updating investors ahead of Tuesday's annual general meeting, Science Group said overall trading is in line with the board's expectations with adjusted operating profit for the interim period ending June 30 anticipated to be ahead of the prior year.
The company said it benefits from business and sector diversity and the resilient first half performance, despite the currently unpredictable political and market environment, provides a good foundation for the year as a whole.
Science Group said its strong cash position, with gross cash of GBP38.1 million at May 31, allows the firm to explore corporate opportunities and to continue the share buy-back programme in the second half of the year.
By Jeremy Cutler, Alliance News reporter
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