Last checked at 
(Alliance News) - Judges Scientific PLC on Wednesday reported "record" earnings for 2019 as it declared a higher dividend payout.
Shares in the industrial equipment supplier were up 2.6% at 3,488.89 pence each.
The London-based company said it saw organic revenue growth to GBP82.5 million from GBP77.9 million in 2018, reflecting a 5.6% increase. 30% of the group's revenues were earned in North America, 28% in the rest of Europe and 11% in China and Hong Kong.
Pretax profit was also up at GBP13.6 million from GBP10.2 million the year prior. Eearnings per share before adjusted items was up by 21% to 222.5p from 183.4p.
Judges Scientific proposed a final dividend of 35p per share, taking the total payout - excluding the special dividend - to 50. In 2018, the dividend payout was 40p
As at the end of December, the company had cash of GBP14.1 million and net debt of GBP300,000.
Looking ahead, Judges Scientific said the Covid-19 outbreak could hurt order intake, sales and installations. However, it said it believes any disruptions will be temporary dependent on the duration of the outbreak.
"The next few months are unpredictable as the Covid-19 epidemic is now global. We are currently in a strong financial position with high cash balances and low gearing together with a robust order book. The effect on trading performance will be limited if the outbreak lasts only a further two months and will have a progressively growing and more significant impact thereafter," said Chief Executive David Cicurel.
By Ife Taiwo; ifetaiwo@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
