Science Group makes 'good start' to FY trading
International consulting services firm Science Group said on Monday that all three of its divisions had made "a good start" to the trading year.
Science Group now anticipates that, for the six months ended 30 June, it will report revenue in excess of £40.0m and adjusted operating profits in excess of £7.0m.
The AIM-listed group branded this "an excellent performance", ahead of the upgraded expectations for an adjusted operating profit increase of over 40% year-on-year, despite "significant" currency exchange headwinds.
Elsewhere, Science revealed that chief financial officer Sameet Vohra will leave the group at the end of September after joining the company in January and his appointment becoming effective in late April.
"Science Group's success is derived from its integrated organisation, with a hands-on operating management culture at all levels of the group," said Science Group. "After a career in significantly larger companies, it has become apparent that the role within Science Group is not aligned with Mr Vohra's aspirations."
The firm said Jon Brett, currently its group financial controller, will be appointed acting group finance director before eventually being appointed to its board.
As of 1110 BST, Science Group shares were down 5.36% at 421.44p.