(Alliance News) - Judges Scientific PLC on Thursday said it expects its earnings for 2020 to be ahead of market expectations, despite difficult trading conditions.
The scientific instrument-focused investor said it delivered profit in each month of 2020, with currency exchange rates remaining favourable despite of the pound strengthening in the run-up to the finalisation of a trade deal between the UK and EU.
For the year, organic order intake shrank by 13% following the outbreak of Covid-19 and tough trading conditions caused by lockdowns imposed across the world.
However, Judges Scientific noted a strong start to 2021, with the organic order book as at Thursday last week at 14.0 weeks of budgeted sales, up from 13.2 weeks a year before.
As a result, the group anticipates adjusted earnings per share to be ahead of consensus expectations, which stands at 151.8 pence. The consensus figure would be down 32% from 222.5p in 2019.
Judges Scientific will publish its annual results on March 23.
Shares in Judges Scientific were up 0.9% at 6,356.00 pence on Thursday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Judges Scientific (JDG)