15th Oct 2019 13:35
(Alliance News) - Science Group PLC on Tuesday said its has continued to perform satisfactorily, excluding newly acquired Frontier Smart Technologies Group Ltd, with a slightly stronger performance over the summer than anticipated.
The science and technology-based consultancy company also said it will record a GBP3 million exceptional charge in 2019 in relation to restructuring of Frontier Smart. Following restructuring, Frontier Smart business is anticipated to be profitable in 2020 .
The Frontier Smart deal is predicted to be earnings enhancing for Science Group in 2020, assuming no further restructuring or provisions are required.
The merger of Frontier Smart Technologies became effective on Friday and trading in Frontier shares was suspended on Monday. Frontier Group is anticipated to be cancelled from AIM market next Monday.
Science Group shares were 0.8% higher at 194.00 pence each in London on Tuesday afternoon.
By Tapan Panchal; [email protected]
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