Science Group PLC Trading and Board Update (8030E)
July 12 2021 - 1:00AM
UK Regulatory
TIDMSAG
RNS Number : 8030E
Science Group PLC
12 July 2021
12 July 2021
Trading and Board Update
Science Group plc (the "Company") together with its subsidiaries
("Science Group" or the "Group") provides the following trading
update.
As reported at the time of the AGM on 19 May 2021, all three
divisions of the Group had a good start to the year. This momentum
has continued throughout the first half and the Board now
anticipates that, for the 6 months to 30 June 2021, the Group will
report revenue in excess of GBP40 million and adjusted operating
profit ("AOP") in excess of GBP7 million. This is an excellent
performance, ahead of the upgraded expectations at the time of the
AGM and an AOP increase of over 40% relative to the prior year,
despite significant currency exchange headwinds.
The interim results are anticipated to be released in the last
week of July.
Board Change
By mutual agreement, Mr Sameet Vohra, Chief Financial Officer,
will be resigning from the Board at the end of July and will leave
the Group at the end of September. Mr Vohra joined the Company in
January and his appointment became effective in late April.
Science Group's success is derived from its integrated
organisation, with a hands-on operating management culture at all
levels of the Group. After a career in significantly larger
companies, it has become apparent that the role within Science
Group is not aligned with Mr Vohra's aspirations.
Mr Jon Brett, currently Group Financial Controller, will be
appointed Acting Group Finance Director upon satisfactory
completion of the necessary AIM Rules and other compliance
procedures at which point it is envisaged that Mr Brett will be
appointed to the Board. Mr Brett trained with Deloitte LLP and
qualified in 2004. He joined Science Group in March 2020.
End
Science Group plc Tel : +44 (0) 1223 875200
Martyn Ratcliffe, Chairman www.sciencegroup.com
Stifel Nicolaus Europe Limited (Nominated Adviser & Broker) Tel : +44 (0) 20 7710 7600
Nick Adams, Alex Price
Liberum Capital Limited (Joint Broker) Tel: +44 (0) 20 3100
2000
Neil Patel, Cameron Duncan
This announcement contains inside information. The person
responsible for this announcement is Martyn Ratcliffe.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTUKUORAWUBRAR
(END) Dow Jones Newswires
July 12, 2021 02:00 ET (06:00 GMT)
Science (LSE:SAG)
Historical Stock Chart
From Apr 2024 to May 2024
Science (LSE:SAG)
Historical Stock Chart
From May 2023 to May 2024