Business
Interim results for six months ended 30 June 2024
Interim results for six months ended 30 June 2024.
About this update from Science Group Plc
[{"type":"text","content":"\n\n \n \n\n\n\n\n\n\n\n\n \n23 July 2024\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 2024\n \n \nSummary\n \n \n \n· Record H1 adjusted* operating profit of £11.0m (H1 2023: £10.4m)\n \n· Adjusted* basic EPS increase to 18.1 pence (H1 2023: 16.6 pence)\n \n· Strong balance sheet with Group cash of £38.8m and net funds of £26.4m (H1 2023: £29.2m and £15.7m respectively), benefitting from good cash conversion\n \n· CMS2 turnaround delivering significant contribution\n \n· Increased 2024 share buyback programme of up to £5.0m\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\nErik Anderson, Nick Harland\n\n\nTel: +44 (0) 20 7710 7600\n\n\n\n\n\n\n\n\n\n\n\n\nPanmure Liberum (Joint Broker)\n\n\n\n\n\n\n\nMax Jones, John More\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 2024\n \nScience Group plc is an international science & technology consultancy and systems organisation, supported by a robust balance sheet including significant cash resources and freehold property assets.\n \nFor the six months ended 30 June 2024, Group Adjusted Operating Profit increased to a record first half of £11.0 million (H1 2023: £10.4 million) on revenue of £53.7 million (H1 2023: £56.1 million). Adjusted basic earnings per share increased to 18.1 pence (H1 2023: 16.6 pence) and cash generated from operations in the period was £10.7 million (H1 2023: £7.2 million). (Alternative performance measures provide clarity on the Group's underlying trading performance. Refer to Note 1 for d...