Last checked at 23 Jul 2018 07:00
Judges Scientific PLC
Press Release | 23 July 2018 |
Judges Scientific Plc
("Judges Scientific" or "the Group")
Trading Update and Notice of Interim Results
The Directors of Judges Scientific, a group involved in the buy and build of scientific instrument businesses, update shareholders and the market regarding the Group's trading performance during the first half of the current financial year.
The Group's results for the six-month period to 30 June 2018 will include a first time contribution from Oxford Cryosystems Ltd, which was acquired in July 2017. "Organic" in this statement excludes the performance of this business.
Order intake
Organic order intake in the first half was solid, showing a progression of 2.3% on the excellent performance achieved in the same period last year. On 30 June 2018, the Organic order book stood at 15.0 weeks of sales against 15.0 weeks at the beginning of 2018 and 15.4 weeks at 30 June 2017.
With bookings at Oxford Cryosystems in line with its budget, overall order intake was consistent with what is required to meet market expectations without depleting the order book. The Group's overall order book, including Oxford Cryosystems, at 30 June 2018 stood at 14.6 weeks.
First Half Performance
The solid order book from the beginning of 2018 enabled the Group to maintain the momentum gathered in 2017. Currency has still been a positive influence, despite Sterling temporarily strengthening in the first quarter. Overall the Group has delivered a solid performance, including significant progress in relation to the subsidiary that had historic production issues.
The Board expects the interim results to show strong progress in revenues, EBIT and earnings per share.
Full Year Outlook
The Group has enjoyed a good first half and the outlook for the year is positive. Although the bias towards second half performance observed in recent years may not be evident this year, the Board is confident that market expectations for the year will be achieved.
Notice of Results
The Company expects to announce its interim results for the six months to 30 June 2018 on 18 September 2018.
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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 | |
Alma (Financial Public Relations) Rebecca Sanders-Hewett Susie Hudson Sam Modlin |
Tel: +44 (0) 20 3865 9886 | |
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 16 businesses acquired since it was re-admitted to AIM in 2005.
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 has received five Queens' awards for innovation and export.
Judges Scientific maintains a policy to selectively acquire businesses that generate sustainable profits and cash. Shareholder returns are created through the repayment of debt, dividends and through organic growth which the Group encourages by creating an environment for businesses to thrive in, with support and advice for entity management teams.
The Group's companies predominantly operate in global niche markets, with long term growth fundamentals and resilient margins.
For further information, please visit www.judges.uk.com