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Science Group forecasts 30% profit rise; decides to keep Frontier business
StockMarketWire.com
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Consultancy company Science Group said it expected to report an around 30% rise in first-half operating profit following a good start to 2021 at all three of its divisions.
The company also said it had decided to retain its recently acquired Frontier radio business and terminate related sale talks.
Science Group added that it was closely monitoring the impact of a strengthening pound on its results.
'This excellent start to 2021 provides a platform for the year as a whole and empowers the group management teams to continue to invest in future growth opportunities with confidence,' it added.
Science Group said a strategy review for Frontier was ongoing, but noted that it was a 'highly profitable business making a significant positive contribution to the group'.
'The review has not only confirmed the strategic position of Frontier but also identified a number of opportunities to further enhance and develop the business which are currently being evaluated,' it added.
'As a result, the board has concluded that retaining Frontier in the group is the most attractive option for Science Group shareholders and has decided to terminate potential sale discussions.'
Story provided by StockMarketWire.com
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