- Science Group
- 21 May 2025 11:31:44
Source: Sharecast
The AIM-traded firm, which was holding its annual general meeting, reported net funds of £9m at 30 April, with gross cash of £20.9m and its £30m revolving credit facility remaining undrawn.
It also announced the early completion of a major IT system migration across its consultancy division, which had now fully transitioned to a unified platform.
While the defence business was continuing to operate on-premises for security reasons, all other units were now cloud-based.
The upgrade was expected to enhance operational efficiency and resilience across the group.
Separately, Science Group reiterated its 20.08% stake in Ricardo and confirmed that a shareholder meeting had been requisitioned amid continued concerns over Ricardo’s strategic direction, governance, and financial performance.
A shareholder circular was expected imminently following a series of public statements made by Science Group criticising the board of the engineering and environmental consultancy.
At 1043 BST, shares in Science Group were up 2.13% at 480p.
Reporting by Josh White for Sharecast.com.