By Joe Hoppe


Science Group PLC said Wednesday that it has made a good start to the year, and that it expects its first-half adjusted operating profit to rise around 20% on year.

The London-listed science-and-technology consulting company said its performance through April slightly exceeded its expectations. Though it didn't provide a specific figure, based on the company's growth expectation its adjusted operating profit in the first half is likely to be around 8.7 million pounds ($10.9 million) given it posted an adjusted operating profit of GBP7.3 million in the prior-year period.

The company said it is closely monitoring the effects of materials, energy and wage inflation, though it is benefiting from a broadly offsetting effect as the dollar strengthens against the pound sterling.

Gross cash as of April 30 was GBP38.4 million, with net funds of GBP23.4 million, it said. The company said its strong balance sheet, with an undrawn GBP25 million line of credit, will allow it to continue evaluating opportunities to increase its scale or development.

Shares at 0733 GMT were up 20.0 pence, or 5.3%, at 400.0 pence.


Write to Joe Hoppe at joseph.hoppe@wsj.com


(END) Dow Jones Newswires

05-18-22 0407ET