REG - Judges ScientificPLC - Full Year Trading Statement and Notice of Results

Judges ScientificAnnouncement

18/01/2024 07:00

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RNS Number : 0654A  Judges Scientific PLC  18 January 2024

18 January 2024

Judges Scientific plc

(the "Group" or "Judges")

Full Year Trading Statement and Notice of Final Results

The Board of Judges Scientific plc, a group focused on acquiring and
developing companies in the scientific instrument sector, provides the
following update on the Group's trading performance for the financial year
ended 31 December 2023.

Throughout the year, the Group has continued to demonstrate its resilience and
has delivered both Organic and inorganic growth. Whilst the wider
macro-economic environment remained uncertain throughout 2023, the main supply
chain challenges that previously impacted the Group alleviated during the year
(although they still affected cash generation). This enabled the Group to
crystallise a portion of its large opening order book. As a result, with
Organic order intake up 7% the Group was able to grow Organic revenues by 15%
compared to 2022 and hence reduce the Organic order book at 31 December 2023
to the more historically normal 17.0 weeks  (31 December 2022: 21.1 weeks).

This Organic performance, allied with satisfactory full year trading at Geotek
and the two small acquisitions completed in the first half (Henniker and Bossa
Nova Vision), contributed to increased profitability at the operating level.
However, the previously highlighted steep increase in UK headline corporation
tax from 19% to 25% from April 2023 tempered post tax growth. The Board
expects Adjusted operating profit and Adjusted earnings per share for 2023 to
be in line with current market expectations(1).

Notice of Final Results

The Company intends to announce its full year results for the year ended 31
December 2023 on 21 March 2024.

(1)Current consensus market expectations for the year ended 31 December 2023
are Adjusted operating profit of £34.5m and Adjusted basic earnings per share
of 361.6p.

-     Ends -

 For further information please contact:

 Judges Scientific plc                    Shore Capital (Nominated Adviser & Joint Broker)

 David Cicurel, CEO                       Stephane Auton

 Brad Ormsby, CFO                         Iain Sexton

 Tel: +44 (0) 20 3829 6970                Tel: +44 (0) 20 7408 4090

 Liberum (Joint Broker)                   Investec Bank plc (Joint Broker)

 Edward Mansfield                         Virginia Bull

 Nikhil Varghese                          Carlton Nelson

 Tel : +44 (0) 20 3100 2222               Tel: +44 (0) 207 597 4000

 Alma (Financial Public Relations)

 Sam Modlin

 Rebecca Sanders-Hewett

 Joe Pederzolli

 Tel: +44 (0) 20 3405 0205

 judges@almastrategic.com

 

Notes to editors:

Judges Scientific plc (AIM: JDG), is a group focused on acquiring and
developing companies in the scientific instrument sector.  The Group now
consists of 22 businesses acquired since 2005.

The acquired companies are primarily UK-based with products sold worldwide to
a diverse range of markets including: higher education institutions,
scientific research facilities, manufacturers and regulatory authorities.
The UK is a recognised centre of excellence for scientific instruments.
The Group has received five Queen's Awards for innovation and export.

The Group's companies predominantly operate in global niche markets, with long
term growth fundamentals and resilient margins.

Judges Scientific maintains a policy of selectively acquiring businesses that
generate sustainable profits and cash.  Shareholder returns are created
through the reduction of debt, organic growth and dividends.

For further information, please visit www.judges.uk.com
(https://url.avanan.click/v2/___http:/www.judges.uk.com/___.YXAxZTpzaG9yZWNhcDphOm86M2M4NzY3NGU5MjMxNzExOWZjYjg5ODlkYjkxNmZmZDI6NjoxMTMwOjk3ZWNjN2I3YmJmODJiYTYyYzE0NjI5NzI5NzQzMTEzY2NkOWJlMDYxNWM5OTcyYTU2YmJhNGU0NDYyNGRkNzI6cDpU)

 

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