Science Group - significant strategic developments
Science Group’s shares are down 2% today following the release of the Group’s 2015 results. After allowing for acquisitions, revenue and profits were reported as being down slightly but strategic developments could point to interesting times ahead for this science and technology consultancy group.
Science Group (AIM: SAG) http://www.sciencegroup.com/ Science Group (formerly Sagentia) issued its results today (3rd March) for the year to 31 December 2015. The Group reported revenue of £31.2 million (2014: £28.3 million) and pre tax profits of £2.4 million (£4.2 million). Much of the reduction in profits was due to a £1.1 million non-cash write down of the carrying value of its OTM Consulting acquisition (a specialist oil and gas consultancy which was acquired in 2013 for £6.5 million). There was also a £0.5 million charge in relation to the integration of the two acquisitions made in 2015. Earnings per…