- Science Group
- 24 April 2025 10:55:11
Source: Sharecast
Science Group said it had delivered "a positive start" to the year, with revenue and profitability slightly ahead of internal expectations for Q1. While it noted that trading conditions were "currently unpredictable", it noted that its "resilient Q1 performance" provided a good foundation for 2025 thanks to its "considerable variability across different market sectors".
The AIM-listed group added that group operating cash flow was also "strong" in the first months of the year and that it currently retains "a robust balance sheet" with "significant cash resources".
Elsewhere, Science Group said the objective of the Ricardo's recent business and strategy update remained "unclear" and appeared to have been motivated primarily by Science Group's shareholding.
However, Science Group, which holds a 20.1% stake in Ricardo, stated it does demonstrate the Ricardo board's "rose-tinted perspective".
"Ultimately, the Ricardo chairman is accountable for the destruction of shareholder value, the failure of governance and the lack of corporate direction. As Ricardo evolves, now is the appropriate time to align the board, management and all Ricardo shareholders. It is clear that a change in board composition is essential to begin to restore value and shareholder confidence," said Science Group.
As of 1050 BST, Science Group shares were down 0.49% at 410.0p.
Reporting by Iain Gilbert at Sharecast.com