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LONDON (Alliance News) - Scientific devices maker Judges Scientific PLC boosted its dividend a quarter Tuesday after profit rose twofold, with revenue growing to record levels amid strong demand.
In 2018, pretax profit doubled to GBP10.2 million from GBP5.1 million the year prior. This was after revenue rose 9.1% to GBP77.9 million from GBP71.4 million the year before.
"2018 saw the group achieve new records for order intake, sales, adjusted profits, cash generation and earnings per share; this was driven by strong demand for our products, continued operational improvements and very favourable foreign exchange rates," Judges Chair Alex Hambro said.
Judges proposed a 28.0 pence per share final dividend, up 27% from 22.0p the year prior. For the full year, the dividend rose 25% to 40.0p from 32.0p the year before.
"2019 has started well and, with a robust balance sheet and a strong order book, Judges is well positioned to face an uncertain macro and political climate."
Shares in Judges were 1.4% higher at 2,910.00p on Tuesday.