Science Group trading slightly ahead of expectations
By Josh White
Date: Wednesday 21 May 2025
(Sharecast News) - Science Group said in an update on Wednesday that trading in the first four months of 2025 was slightly ahead of the board's plan, despite global market volatility in April, providing a strong start to the year.
The AIM-traded firm, which was holding its annual general meeting, reported net funds of £9m at 30 April, with gross cash of £20.9m and its £30m revolving credit facility remaining undrawn.
It also announced the early completion of a major IT system migration across its consultancy division, which had now fully transitioned to a unified platform.
While the defence business was continuing to operate on-premises for security reasons, all other units were now cloud-based.
The upgrade was expected to enhance operational efficiency and resilience across the group.
Separately, Science Group reiterated its 20.08% stake in Ricardo and confirmed that a shareholder meeting had been requisitioned amid continued concerns over Ricardo's strategic direction, governance, and financial performance.
A shareholder circular was expected imminently following a series of public statements made by Science Group criticising the board of the engineering and environmental consultancy.
At 1043 BST, shares in Science Group were up 2.13% at 480p.
Reporting by Josh White for Sharecast.com.
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