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LONDON (Alliance News) - Science Group PLC said it performed in line with its expectations in the first four months of 2016, in a statement ahead of its annual general meeting on Thursday .
The science and technology consulting company said that it has benefited from diversifying its client end-markets.
The oil and gas market continued to be challenging in the first quarter, Science Group said, and its medical business continued to suffer from a lack of new projects replacing those completed in 2015. However, after changes in its management structuring and sales leadership, the company has won a number of projects in the medical sector in recent months.
Science Group said it has now received planning consent for its works at Great Burgh, Epsom, and the relocation of its Leatherhead and OTM Consulting businesses remains on track to be completed over the summer. It has now begun talks about possibly increasing its banking facilities, to be secured on its "substantial freehold property assets".
Shares in Science Group were down 0.8% at 122.50 pence Thursday.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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