Trading Update and Notice of Interim Results
22 July 2019
Judges Scientific Plc
("Judges Scientific" or "the Group")
Half Year Trading Update and Notice of Interim Results
The Directors of Judges Scientific (AIM: JDG), a group engaged in the buy and build of scientific instrument businesses, update shareholders and the market regarding the Group's trading performance for the six month period ended 30 June 2019.
Order intake in the first half was 4.2% ahead of the same period last year, which is consistent with our sales growth expectations for the year. This resulted from a solid progression in the first quarter followed by a small contraction in the second quarter.
Sales and order book
Sales in the first half were bolstered by the solid order book available at the beginning of 2019 and by efforts throughout the Group to pursue operational excellence and reduce customer delivery lead times. These operational improvements resulted in revenue running ahead of orders and hence a moderate reduction of the order book. On 30 June 2019, the order book stood at 13.2 weeks of sales against 14.4 weeks at the start of 2019 and 15.0 weeks at 30 June 2018.
First Half Performance
The strong sales performance throughout the Group and continued positive influence of exchange rates have helped to deliver a sound performance and the Board expects the interim results to show strong progress in revenues, EBIT and earnings per share.
Full Year Outlook
The Group has enjoyed a good first half, partially helped by consumption of some of the order book; the outlook for the year remains positive and the Board is confident that market expectations for the year will be achieved.
Notice of Results
The Company intends to announce its interim results for the six months to 30 June 2019 on 18 September 2019.
- Ends -
David Cicurel, CEO
Brad Ormsby, Group FD
Tel: +44 (0) 203 829 6970
Shore Capital (Nominated Adviser & Joint Broker)
Tel: +44 (0) 20 7408 4090
Liberum (Joint Broker)
Tel: +44 (0) 20 3100 2222
Alma PR (Financial Public Relations)
Tel: +44 (0) 20 3405 0205
Notes to editors:
Judges Scientific plc (AIM: JDG), is a group engaged in the buy and build of scientific instrument businesses. The Group currently consists of 16 businesses acquired since it was re-admitted to AIM in 2005.
The acquired companies are primarily UK-based with products sold worldwide to a diverse range of markets including: higher education institutions, the scientific communities, manufacturers and regulatory authorities. The UK is a recognised centre of excellence for scientific instruments. The Group has received five Queens' awards for innovation and export.
Judges Scientific maintains a policy to selectively acquire businesses that generate sustainable profits and cash. Shareholder returns are created through the reduction of debt, payment of increasing dividends and through organic growth which the Group encourages by creating an environment for businesses to thrive in, with support and advice for entity management teams.
The Group's companies predominantly operate in global niche markets, with long term growth fundamentals and resilient margins.
For further information, please visit www.judges.uk.com
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
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