19th Apr 2018 14:43
LONDON (Alliance News) - Science Group PLC on Thursday said trading so far this year has been strong, with profit ahead of board expectations.
This, alongside a strengthening pounds, gives a "good" platform for 2018, Science Group said, although it does maintain some caution given it is so early in the year.
The integration of Technology Sciences Group, which Science Group bought for USD17.0 million in September, is making progress, it said.
Science Group also said Thursday it has appointed Panmure Gordon to manage its share buyback programme. The company said the liquidity of daily share trading is limited by the fact that nine shareholders own 80% of the company.
The appointment, it said, should reduce volatility by providing liquidity for small share trades. The maximum cash outflow for its share buyback programme will be GBP100,000 a month and the maximum daily volume will be 10,000 shares, with the annual cost not exceeded GBP1.0 million.
Shares were up 10% on Thursday at 219.99 pence each.
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