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Science Group swings to profit amid revenue beat

By BFN News | 08:57 AM | Tuesday 09 March, 2021


Consultancy firm Science Group swung to a full-year profit that it said exceeded expectations after sales were boosted its acquisition of radio chip group Frontier Smart Technologies. Pre-tax profit for the year through December amounted to £6.4 million, compared to a year-on-year loss of £1.6 million, as revenue climbed 29% to £73.7 million. Adjusted operating profit jumped 62% to £10.9 million and the company declared a full-year dividend of 4p per share. 'The board is optimistic for the continued progress of the group in 2021, and has experienced a good start to the current year whilst remaining mindful of the ongoing economic uncertainty,' chairman Martyn Ratcliffe said. 'With a strong balance sheet including significant cash resources, the board continues to cautiously explore both add-on acquisitions and larger opportunities to increase the scale of the group.' 'However, there can be no certainty that any transactions will satisfy the board's evaluation criteria and diligence process.' At 8:57am: (LON:SAG) Science Group share price was 0p at 240p Story provided by StockMarketWire.com

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