Business
Audited Results for Year Ended 31 December 2022
Audited Results for Year Ended 31 December 2022.
About this update from Science Group Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 21 March 2023\n \n \n \n \n \n \n \n \n \n \n \n SCIENCE GROUP PLC\n \n \n \n \n \n \n \n AUDITED RESULTS\n \n \n \n \n FOR THE YEAR ENDED 31 DECEMBER 2022\n \n \n \n \n \n \n Science Group plc (the 'Company') together with its subsidiaries ('Science Group' or the 'Group') reports its audited results for the year ended 31 December 2022.\n \n \n \n \n \n \n Summary\n \n \n \n \n \n \n Science Group reports another resilient performance, ahead of the Board's expectations, despite the deterioration in the global economy. The acquisition of TP Group plc (\"TPG\"), completed in January 2023, significantly increases the scale of Science Group and provides a strategic entry into the defence sector. The Group's robust balance sheet, including substantial cash resources, provides both a solid foundation for the existing operations and the potential to pursue further growth opportunities should they arise.\n \n \n \n \n \n \n \n ·\n Group revenue increased to £86.3 million (2021: £81.2 million)\n \n \n ·\n Adjusted* operating profit increased to £17.6 million (2021: £16.3 million)\n \n \n ·\n Adjusted* basic earnings per share increased to 29.4 pence (2021: 28.5 pence)\n \n \n ·\n Dividend maintained at 5.0p (2021: 5.0p)\n \n \n ·\n Year-end cash of £43.6 million and net funds of £29.5 million (2021: £34.3 million and £19.0 million, respectively) with undrawn credit facility of £25.0 million\n \n \n ·\n Acquisition of TP Group plc completed post year-end, funded from organic operating cash flow\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Science Group plc\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Martyn Ratcliffe, Executive Chair\n \n \n Jon Brett, Finance Director\n \n \n \n \n Tel: +44 (0) 1223 875 200\n \n \n \n \n www.sciencegroup.com\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Stifel Nicolaus Europe Limited (Nominated Adviser and Joint Broker)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Nick Adams, Alex Price, Richard Short\n \n \n \n \n \n \n \n Tel: +44 (0) 20 7710 7600\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Liberum Capital Limited (Joint Broker)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Kate Bannatyne,\n Max Jones\n \n \n \n \n \n Tel: +44 (0) 20 3100 2000\...