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Pin to quick picksJudges Scientific Share News (JDG)

Share Price Information for Judges Scientific (JDG)

London Stock Exchange
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Share Price: 7,960.00
Bid: 0.00
Ask: 0.00
Change: 0.00 (0.00%)
Spread: 60.00 (0.761%)
Open: 7,780.00
High: 0.00
Low: 0.00
Prev. Close: 7,960.00
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Judges Scientific acquires Cheshire-based deposition and plasma technology business

Mon, 03rd Apr 2023 08:40

(Sharecast News) - Scientific instruments group Judges Scientific has acquired Cheshire-based deposition and plasma technology firm Henniker Scientific.

Judges Scientific said on Monday that the initial consideration for Henniker was £1.8m in cash, plus an earn-out payment due in 2024 and equal to four times underlying earnings for the year ended 31 March 2024, minus the initial payment value.

The AIM-listed group stated the total consideration has been capped at £2.3m, which will be achieved if EBIT for 2023-24 equals £578,000.

Judges Scientific expects the acquisition to be immediately earnings enhancing and highlighted that it was funded from existing cash balances.

Chairman Alex Hambro said: "We are pleased to welcome the Henniker team to the Judges family. The board believes that Henniker is a solid, growing, and profitable company manufacturing quality products."

As of 1055 BST, Judges Scientific shares were up 1.76% at 8,650.0p.

Reporting by Iain Gilbert at Sharecast.com

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