Blazing Star Merger Sub completes Walgreens debt tender offer
LONDON - Science Group plc reported a robust start to 2025, with revenue and profitability slightly exceeding the Board’s expectations for the first four months, despite global economic volatility in April. The company, which provided this update in conjunction with its Annual General Meeting (AGM), cited a resilient performance as a solid foundation for the remainder of the year.
As of April 30, 2025, Science Group held gross cash reserves of £20.9 million and net funds amounting to £9.0 million. The Group’s revolving credit facility, which includes a £30 million base and a £10 million accordion feature set to expire in 2030, has not been utilized.
In an effort to enhance operational efficiency and resilience, Science Group has successfully completed the IT system migration for its Consultancy Division ahead of schedule. The integration has consolidated business operations onto a single platform, with the Defence business maintaining an on-premises system for security purposes and other activities transitioning to cloud-based systems. The swift and effective IT overhaul reflects the Group’s commitment to cross-functional collaboration.
The company also provided an update on its stake in Ricardo plc, which stands at 20.08%. Science Group has previously expressed concerns regarding Ricardo’s strategy, operating performance, and governance. Despite attempts to initiate dialogue with Ricardo, Science Group has been compelled to requisition a general meeting, with a circular to shareholders expected to be released shortly.
This announcement, based on a press release statement, highlights Science Group’s financial health and strategic initiatives as it navigates the current economic landscape.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.