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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Science Group Plc | LSE:SAG | London | Ordinary Share | GB00B39GTJ17 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
11.00 | 2.58% | 438.00 | 430.00 | 446.00 | 438.00 | 427.00 | 427.00 | 24,713 | 15:19:58 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Business Consulting Svcs,nec | 98.82M | 10.56M | 0.2322 | 18.86 | 199.11M |
TIDMSAG
RNS Number : 8007O
Science Group PLC
10 November 2016
10 November 2016
Science Group plc
("Science Group" or "Group")
Business Update
The Board of Science Group plc provides the following business update in respect of the second half of its financial year ending 31 December 2016.
In the first half of 2016, 46% of Science Group revenue was denominated in US Dollars or Euros, whilst over 90% of employees are based in the United Kingdom. While underlying adjusted operating profit (excluding currency effects) remains in line with the Board's expectations, following the EU Referendum in June, the subsequent devaluation of Sterling has benefited the Group in recent months. It is therefore apparent that the Group's adjusted operating profit for 2016 is likely to be ahead of the Board's expectations due to the benefit of the currency movements.
The relocation and integration of Leatherhead Food Research and OTM Consulting into the Epsom site was completed in September 2016. As previously indicated, the Group expects to record a related non-recurring charge of approximately GBP0.5 million in the year ended 31 December 2016 (of which GBP0.3 million was charged in the first half of the year).
The Group retains a very strong balance sheet. At 31 October 2016, the Group had cash of GBP25.8 million and net funds of GBP10.9 million. The debt of GBP15.0 million is secured against the Group's freehold properties in Cambridge and Epsom which had a book value of GBP21.3 million at 30 June 2016.
Following the EU Referendum, international business activity has remained consistent but some UK sectors do appear to be reducing discretionary expenditure. The impact of the US election is unclear and, in combination with the Brexit process, a period of uncertainty is expected. However, Sterling is anticipated to remain below pre-Referendum levels during the first half of 2017 and the Board will use the opportunity to invest in the Group's strategy.
- Ends -
For further information:
Science Group plc Martyn Ratcliffe, Chairman Tel: +44 (0) 1223 875 200 Rebecca Hemsted, Finance Director Numis Securities Limited Nominated Adviser: Simon Willis Tel: +44 (0) 20 / Paul Gillam 7260 1000 Corporate Broking: Michael Burke
This information is provided by RNS
The company news service from the London Stock Exchange
END
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November 10, 2016 02:00 ET (07:00 GMT)
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