Science Group trading in line with expectations

18th Jun 2024 10:38

(Sharecast News) - Science Group announced a positive trading update on Tuesday, ahead of its annual general meeting.

The AIM-traded company said it was trading in line with its own expectations for the first months of 2024, with adjusted operating profit for the interim period ending 30 June set to surpass the prior year.

It said that performance was bolstered by the group's diverse business and sector engagements, which provided resilience despite the current unpredictable political and market conditions.

As of 31 May, Science Group held gross cash of £38.1m and net funds amounting to £25.4m.

That strong position empowered the board to explore potential corporate opportunities, and supported the continuation of the share buyback programme in the second half.

At 0939 BST, shares in Science Group were up 4.03% at 444.2p.

Reporting by Josh White for Sharecast.com.