REG - Science Group PLC - AGM Update

ScienceAnnouncement

21/05/2025 07:02

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RNS Number : 4655J  Science Group PLC  21 May 2025

 

21 May 2025

 

Science Group plc

(the "Group" or "Science Group")

 

AGM Update

 

 

Further to the update on 24 April 2025, Science Group continues to perform
well with revenue and profitability slightly ahead of the Board's plan for the
first 4 months of the year, despite the global volatility during April. The
resilient start through this period of uncertainty, provides a good foundation
for the year.

 

At 30 April 2025, Science Group had gross cash of £20.9 million and net funds
of £9.0 million. In addition, the Group's revolving credit facility (£30m +
£10m accordion, expiring in 2030) remains undrawn.

 

In parallel, the IT system migration across the Consultancy Division has been
completed ahead of schedule and all business operations are now processed via
the same platform. The Defence business is an on-premises system for security
reasons and all other activities are cloud-based. This successful IT
implementation, integrating all the consultancy businesses to improve
efficiency and resilience, is a credit to the cross-functional collaboration
within the Group.

 

Science Group shareholding in Ricardo plc is 20.08%. Commentary on the Ricardo
strategy, poor operating performance and ineffective governance has been set
out by Science Group in statements on 17 and 31 March, 24 April and 1 May
2025. Science Group sought to engage in dialogue with Ricardo but ultimately a
general meeting has had to be requisitioned and the circular to shareholders
is anticipated imminently.

 

 

- Ends -

 

 

 For further information:

Science Group plc
 Martyn Ratcliffe, Executive Chair                                               Tel: +44 (0) 1223 875 200
 Jon Brett, Finance Director                                                     www.sciencegroup.com
                                         (https://protect.checkpoint.com/v2/r06/___http:/www.sciencegroup.com___.ZXV3MjpuZXh0MTU6YzpvOjU0ZGI5YzMxZTIyYWRjYjNiNDllZDg0YzAwYjdlYTg0Ojc6ODkyNTpiMmM0ZGYxMGZmNjg5OGUzNTZjZDliYzcxZTZjOWMxY2YxNDJiNjliNzg1Y2E2ZjdiNWUyNWIxMTE3NTdkMjgzOnA6VDpU)

 Canaccord Genuity Limited (Nominated Adviser and Joint Broker)
 Simon Bridges, Andrew Potts                                                     Tel: +44 (0) 20 7523 8000
 MHP
 Reg Hoare                                                                       Tel: +44 (0) 7831 406117

                                                                                 sciencegroup@mhpgroup.com

 

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