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Science Group swings to profit amid revenue beat
StockMarketWire.com
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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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