Last checked at 23 Jan 2017 07:00
Press Release | 23 January 2017 |
Judges Scientific plc (the "Group" or "Judges")
Trading Statement and Notice of Final Results
The Board of Judges updates shareholders on the Group's trading performance for the financial year ended 31 December 2016.
As reported at the half year, organic order intake experienced a slow start in H1. This was followed by an excellent third quarter and a respectable fourth quarter resulting in a 3% organic growth in order intake for the financial year. If Armfield (which was acquired in January 2015 and is not part of organic growth on a like-for-like basis) was included, order intake would show a 2.3% decline from 2015.
Slow order intake at Armfield and one of Judges' organic businesses, as well as production issues at another, were only partially offset by the good performance from all of the remaining Group businesses and the contribution of the four businesses acquired in 2016. This will be reflected in the full year results, which the Board expects to be in line with current market expectations.
Judges commenced 2017 with a robust order book (13.9 weeks compared to 11.4 weeks on 1 January 2016) and a positive foreign exchange environment but with the continuing influence of some of the difficulties experienced in 2016.
Judges expects to announce its full year results for the year ended 31 December 2016 on 21 March 2017.
For further information please contact:
Judges Scientific |
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David Cicurel, CEO Brad Ormsby, Group FD | Tel: +44 (0) 203 829 6970 |
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Shore Capital (Nominated Adviser & Broker) |
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Stephane Auton Edward Mansfield | Tel: +44 (0) 20 7408 4090 | |
Media enquiries: Abchurch (Financial Public Relations) |
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Rebecca Clube / George Robinson / Julian Bosdet
| Tel: +44 (0) 20 7398 7741 www.abchurch-group.com | |
Notes to editors:
Judges Scientific plc (AIM: JDG), is a group involved in the buy and build of scientific instrument businesses. The Group currently consists of 15 businesses acquired since it was first admitted to AIM in 2003.
The acquired companies are primarily UK-based with products sold worldwide to a diverse range of markets including: higher education institutions, the scientific communities, manufacturers and regulatory authorities. The UK is a recognised centre of excellence for scientific instruments. The Group companies hold five Queen's Awards for innovation and export.
Judges Scientific maintains a policy of selectively acquiring businesses that generate sustainable profits and cash. Shareholder returns are created through the repayment of debt, organic growth and dividends.
The Group's companies predominantly operate in niche end markets, with long term growth fundamentals and resilient margins.
For further information, please visit www.judges.uk.com