StockMarketWire.com - Science Group's adjusted operating profits for the 2020 financial year rose by 62% to £10.9 million from the previous year following the successful turnaround of its 2019 acquisition of Frontier Smart Technologies.

For the year ended 31 December 2020, group revenue was up 29% to £73.7 million, reflecting the full-year contribution from Frontier. Adjusted basic earnings per share increased by 67% to 19.4 pence from 11.6 pence in 2019.

Amortisation of acquisition related intangibles and share based payment charge totalled £3.7 million, and the group reported an operating profit of £7.1 million for the year after a £0.2 million operating loss in 2019.

Science Group said it continues to benefit from excellent cash conversion and a very strong balance sheet. At 31 December 2020, gross cash was £27.1 million, up from £13.9 million in 2019, and net funds were £10.6 million, up from £2.3 million in 2019.

The Group's bank debt at 31 December 2020 was £16.5 million.


At 8:26am: [LON:SAG] Science Group share price was 0p at 240p



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