(Alliance News) - Judges Scientific PLC on Monday said it expects to meet market expectations for 2021, noting growth in organic revenue for the first half despite supply chain issues and staff shortages.
For the six months ended June 30, the London-based scientific instrument sector investor said its organic order intake grew 4.2% compared to a 25% increase the same period a year prior.
Although Judges Scientific recorded order intake growth in North America and the Rest of the World at 15% and 13% respectively, Europe remained flat, while China declined 5.1% on Covid-related lockdowns and the UK dropped 9.4%.
The group's order book reached a mid-year record of 21.3 weeks as at June 30, compared to 17.6 weeks the same date a year before.
As a result of the order intake increase, organic sales rose 7% year-on-year, even as further growth was held back by supply chain issues, staff shortages and numerous employees being required to self isolate.
Looking ahead, Judges Scientific said it expects organic revenue growth to drive an improvement in profitability for the first half of 2022.
"Whilst general market conditions remain challenging, our resilient business model, backed up by a strong order book, gives the board confidence that the current market expectations for the full year (revised to include Geotek) will be met," the group stated.
Judges Scientific will publish its interim results on September 22.
Shares in Judges Scientific were down 3.2% at 7,360.00 pence on Monday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Judges Scientific (JDG)