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Science Group (SAG) investor relations material
Science Group H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Delivered resilient H1 2026 performance amid geopolitical and sector uncertainty, with adjusted operating profit up to £11.5m from £11.3m year-over-year and AOP margin rising to 24.3% from 19.7%.
Core revenue (excluding low-margin/pass-through defence activities) was £46.4m, down from £48.7m, reflecting a managed reduction in low-margin activities.
Adjusted basic EPS increased to 20.4p from 19.3p year-over-year, supported by profitability and share buy-backs.
Financial highlights
Total revenue declined to £47.2m from £57.2m, reflecting reduced low-margin pass-through activities.
Adjusted operating profit rose to £11.5m from £11.3m year-over-year.
Cash conversion remained strong at 94%, generating £10.7m from operations.
Group cash at 30 June 2026 was £67.9m, down from £82.0m.
Net funds at £56.8m, down from £70.3m, reflecting capital returns.
Outlook and guidance
Sequential period growth anticipated in H2 2026, mainly driven by the Services Division, with margin enhancement expected.
Systems businesses expect H2 revenue similar to H1, with margins normalizing.
Improvement expected in Sagentia Defence following the UK Defence Investment Plan release in July 2026.
Share buy-back programme for 2026 expected to exceed £20.0m.
- Resilient trading, strong cash, and ongoing buybacks position for value creation in 2026.SAG
Trading update20 May 2026 - Record profit, strong cash flow, and increased shareholder returns highlight robust performance.SAG
H2 202517 Mar 2026 - Record profit, robust cash, and strategic investment position the group for continued growth.SAG
H2 202424 Feb 2026 - Record profit, strong cash, and continued buybacks highlight robust FY25 performance.SAG
H2 2025 TU13 Jan 2026 - Profit before tax soared to £32.2m, led by a £24.0m Ricardo investment gain and strong Systems results.SAG
H1 202528 Jul 2025 - Record profit and strong cash flow highlight resilience and growth in key segments.SAG
H1 202413 Jun 2025
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