Judges Scientific PLC Full Year Trading Statement and Notice of Results (0654A)
18 Januar 2024 - 8:00AM
UK Regulatory
TIDMJDG
RNS Number : 0654A
Judges Scientific PLC
18 January 2024
18 January 2024
Judges Scientific plc
(the "Group" or "Judges")
Full Year Trading Statement and Notice of Final Results
The Board of Judges Scientific plc, a group focused on acquiring
and developing companies in the scientific instrument sector,
provides the following update on the Group's trading performance
for the financial year ended 31 December 2023.
Throughout the year, the Group has continued to demonstrate its
resilience and has delivered both Organic and inorganic growth.
Whilst the wider macro-economic environment remained uncertain
throughout 2023, the main supply chain challenges that previously
impacted the Group alleviated during the year (although they still
affected cash generation). This enabled the Group to crystallise a
portion of its large opening order book. As a result, with Organic
order intake up 7% the Group was able to grow Organic revenues by
15% compared to 2022 and hence reduce the Organic order book at 31
December 2023 to the more historically normal 17.0 weeks (31
December 2022: 21.1 weeks).
This Organic performance, allied with satisfactory full year
trading at Geotek and the two small acquisitions completed in the
first half (Henniker and Bossa Nova Vision), contributed to
increased profitability at the operating level. However, the
previously highlighted steep increase in UK headline corporation
tax from 19% to 25% from April 2023 tempered post tax growth. The
Board expects Adjusted operating profit and Adjusted earnings per
share for 2023 to be in line with current market expectations(1)
.
Notice of Final Results
The Company intends to announce its full year results for the
year ended 31 December 2023 on 21 March 2024.
(1) Current consensus market expectations for the year ended 31
December 2023 are Adjusted operating profit of GBP34.5m and
Adjusted basic earnings per share of 361.6p.
- Ends -
For further information please contact:
Judges Scientific plc Shore Capital (Nominated Adviser
David Cicurel, CEO & Joint Broker)
Brad Ormsby, C FO Stephane Auton
Tel: +44 (0) 20 3829 6970 Iain Sexton
Tel: +44 (0) 20 7408 4090
Liberum (Joint Broker) Investec Bank plc (Joint Broker)
Edward Mansfield Virginia Bull
Nikhil Varghese Carlton Nelson
Tel : +44 (0) 20 3100 2222 Tel: +44 (0) 207 597 4000
Alma (Financial Public Relations)
Sam Modlin
Rebecca Sanders-Hewett
Joe Pederzolli
Tel: +44 (0) 20 3405 0205
judges@almastrategic.com
Notes to editors:
Judges Scientific plc (AIM: JDG), is a group focused on
acquiring and developing companies in the scientific instrument
sector. The Group now consists of 22 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
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