The Science Group PLC Board announced in May 2020 that the final dividend in respect of 2019 would be withdrawn due to the Covid-19 pandemic. In October 2020, an interim dividend of 2.0 pence per share was paid at a cost of £0.8 million.
The Board has proposed a final dividend for 2020 of 4.0 pence per share. The dividend is subject to approval by shareholders at the next Annual General Meeting and the expected cost of £1.6 million has not been included as a liability as at 31 December 2020.
Other financial highlights include:
Record revenue and adjusted operating profit, ahead of upgraded expectations
Group revenue increased 29% to £73.7 million (2019: £57.2 million)
Adjusted* operating profit increased by 62% to £10.9 million (2019: £6.7 million)
Adjusted* basic earnings per share increased by 67% to 19.4 pence (2019: 11.6 pence)
Successful integration and turnaround of Frontier Smart Technologies with strong profit contribution
Group retains a strong balance sheet with significant cash resources and freehold property assets.