Science Group profit more than doubles as revenue rises 10%

Writer,

Archived article

Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.

Consultancy firm Science Group posted a rise in first-half profit after it boosted sales at its R&D and regulatory divisions.

Pre-tax profit for the six months through June more than doubled to £5.4 million, up from £2.5 million year-on-year.

Revenue rose 10% to £40.7 million, or by 16% on a constant currency basis, and adjusted operating profit rose 47% to £7.3 million.

Science Group did not declare an interim dividend. It said its balance sheet remained 'strong' with gross cash of £29 million providing opportunity for further corporate activity.

'In summary, the performance of Science Group in the first half of 2021 has been well ahead of the board's expectations, with all divisions performing well,' the company said.

'The excellent first half provides a solid platform for the rest of the year.'