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20 Jul 2009 07:00
Judges Scientific plc
("Judges Scientific", the "Company" or the "Group")
Trading Statement
20 July 2009
Judges Scientific, the parent company of a group that specialises in the design, manufacture and sale of scientific instruments, is pleased to announce a trading update in respect of the six months ended 30 June 2009.
The announcement last March of the Company's results for the year ended 31 December 2008 included the disclosure that the sales order book had reached a record level at the end of that year and explained that currency movements during the reporting period were having a positive influence on the Company's business.
The Board is now in a position to confirm that these favourable factors have enabled the Group to trade strongly in the first half of the financial year and that this is expected to result in an encouraging improvement in adjusted earnings per share for the period (calculated before amortisation of intangible assets). This progress will have been achieved despite a 10 per cent increase in the average number of shares in issue during the period and a modest recovery in Sterling. It should be noted, however, that the results benefited from a maiden three-week contribution from the newly acquired Quorum Technologies Ltd.
Order intake during the first half of 2009 showed a healthy increase over the figure achieved during the first six months of 2008. The sales order book as at 30 June 2009 stood well below the level on hand at the start of the year but well above the level as at 30 June 2008. These comparisons are on a like-for-like basis, excluding the effects of the acquisition of Quorum.
The Board remains cautiously optimistic in respect of the second half of the financial year, which will enjoy a full six-month contribution from Quorum Technologies, while recognising the possibility that adverse foreign exchange movements and/or the effects of the general economic downturn may yet offset some of these positive developments.
Ends
Enquiries:
Judges Scientific plc
David Cicurel, CEO
01342 323 600
Shore Capital
Pascal Keane
020 7408 4090
Cardew Group
Melvyn Marckus
07775 896491
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