Business
Interim results for 6 months ended 30 June 2023
Interim results for 6 months ended 30 June 2023.
About this update from Science Group Plc
[{"type":"text","content":"\n\n \n\n\n\n\n\n\n\n\n \n24 July 2023\n\n\n\n\n \nSCIENCE GROUP PLC\n \n('Science Group', the 'Group' or the 'Company')\n \nINTERIM RESULTS\nFOR THE SIX MONTH PERIOD ENDED 30 JUNE 2023\n \n \n \nSummary\n \n \n \n· Record H1 results despite economic environment\n \n· Revenue increased by 25% to £56.1m (H1 2022: £44.8m)\n \n· Adjusted* operating profit increased by 18% to £10.4m (H1 2022: £8.8m)\n \n· Adjusted* basic EPS increase of 14% to 16.6 pence (H1 2022: 14.6 pence)\n \n· Strong balance sheet with Group cash of £29.2m and net funds of £15.7m (H1 2022: £38.6m and £23.9m) after completion of TP Group acquisition\n \n· Integration of TP Group progressing in line with the Board's expectations\n \n \n\n\n\n\n\n\n \nScience Group plc\n\n\n\n\n\n\n\nMartyn Ratcliffe, Chairman\nJon Brett, Group Finance Director\n\n\nTel: +44 (0) 1223 875 200\nwww.sciencegroup.com\n\n\n\n\n \nStifel Nicolaus Europe Limited (Nominated Adviser and Joint Broker)\n\n\n\n\n\n\n\nNick Adams, Alex Price, Richard Short\n\n\nTel: +44 (0) 20 7710 7600\n\n\n\n\n\n\n\n\n\n\n\n\nLiberum Capital Limited (Joint Broker)\n\n\n\n\n\n\n\nMax Jones, Miquela Bezuidenhoudt\n\n\nTel: +44 (0) 20 3100 2000\n\n\n\n\n \n* Alternative performance measures are provided in order to enhance the shareholders' ability to evaluate and analyse the underlying financial performance of the Group. Refer to Note 1 for detail and explanation of the measures used.\n\n\nInterim Results 2023\n \nScience Group is a science & technology business providing consultancy and systems to an international client base. The Group comprises five operating divisions, supported by a strong balance sheet including significant cash resources and freehold property assets.\n \nFor the six months ended 30 June 2023, Group revenue increased by 25% to £56.1 million (H1 2022: £44.8 million). Adjusted operating profit in...