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Press Release
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18 November
2024
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Judges Scientific
plc
("Judges
Scientific" or the "Company")
Trading
Update
Judges Scientific, the group focused
on acquiring and developing companies in the scientific instrument
sector, today provides an update on trading.
As announced at the time of the
Group's Interim Results in September, several of our Group
businesses had experienced a challenging first half, driven by
difficult market conditions and the deferral of some projects into
H2 or 2025. We expected the second half to show significant
improvement, with a number of agreements signed too late to impact
the first half but contributing to the second, in addition to the
signature of a 2025 coring contract.
As anticipated, H2 will show
progress compared to H1. However, achievement of the expectations
for the full year, which were revised downwards in July, was
reliant upon the crystallisation and delivery of certain orders. We
now believe these will not all occur in time to deliver against the
expectations before the end of the year.
Organic order intake YTD to the end
of October has progressed 4.2% vs 2023 including a coring contract
by Geotek. Order intake would be 1.6% down if we excluded this
contract, indicating that the general level of orders across the
Group has not yet recovered to the growth path traditional for our
Group.
As a result, the Board now expects
Adjusted basic earnings per share for the year to 31 December 2024
to be between 270p and 300p.
In spite of the disappointing
trading performance, the Board is confident that the long-term
growth drivers of our business remain solid.
For further information please
contact:
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Judges Scientific plc
David Cicurel, CEO
Brad Ormsby, CFO
Tel: +44 (0) 20 3829
6970
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Shore Capital (Nominated Adviser & Joint
Broker)
Stephane Auton
Harry Davies-Ball
Tel: +44 (0) 20 7408 4090
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Panmure Liberum (Joint Broker)
Edward Mansfield
Nikhil Varghese
Tel : +44 (0) 20 3100
2222
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Investec Bank plc (Joint Broker)
Virginia Bull
Carlton Nelson
Tel: +44 (0) 20 7597 4000
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Alma (Financial Public Relations)
Sam Modlin
Joe Pederzolli
Rebecca Sanders-Hewett
Sarah Peters
Tel: +44 (0) 20 3405 0205
judges@almastrategic.com
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Notes to editors:
Judges Scientific plc (AIM:
JDG), is a group focused on acquiring and developing companies in
the scientific instrument sector. The Group consists of 25
businesses acquired since 2005.
The acquired companies are
primarily UK-based with products sold worldwide to a diverse
range of markets including: higher education institutions,
scientific research facilities, manufacturers and regulatory
authorities. The UK is a recognised centre of
excellence for scientific instruments. The Group has received
five Queen's Awards for innovation and export.
The Group's companies predominantly
operate in global niche markets, with long term growth fundamentals
and resilient margins.
Judges Scientific maintains a
policy of selectively acquiring businesses that generate
sustainable profits and cash. Shareholder returns are created
through the reduction of debt, organic growth and
dividends.
For further information, please
visit www.judges.uk.com