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

Judges ScientificAnnouncement

20/01/2025 07:00

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RNS Number : 8293T  Judges Scientific PLC  20 January 2025

20 January 2025

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 2024.

As previously announced, 2024 was a difficult year for the Group. The
challenging trading environment resulted in mixed trading across our Group
and, as the year developed, the prospect of a 2024 Geotek coring expedition
evaporated, resulting in no recognisable revenue in the year. Other headwinds
affected our businesses to varying degrees, including a large reduction in
orders from China, together with a general weakness in order intake and some
customers delaying orders and deliveries.

Organic order intake, including a Geotek coring contract, was up 7% versus
2023. Excluding this order, the Organic order intake finished up 2.2% versus
2023. The Organic order book at the year-end had grown to 18.7 weeks of sales
(16.7 weeks at the end of 2023) but, without coring, this would have been 16.9
weeks.

Organic revenues were down 5.8% from 2023, and down 0.7% excluding coring. The
operational leverage in the business means that the small decline in organic
revenue has a large impact on profitability.

Cash conversion is an essential element of our business model and restoring it
to the pre-Covid levels has been a priority - pleasingly, cash conversion for
the full year will show a return to historical levels.

The current year is starting more encouragingly, with Geotek's coring
expedition having commenced and a number of the deferred projects from 2024
are now anticipated to contribute to H1 earnings. The Board remains confident
in the long-term growth drivers of the business and expects Adjusted earnings
per share for 2024 to be in line with current market expectations(1) as
updated in November 2024.

Notice of Final Results

The Company intends to announce its full year results for the year ended 31
December 2024 on 19 March 2025.

(1)Current consensus market expectations for the year ended 31 December
2024 are Adjusted basic earnings per share of 276.8p.

 

For further information please contact:

 

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

 David Cicurel, CEO                                           Stephane Auton

 Brad Ormsby, CFO                                             Harry Davies-Ball

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

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

 Edward Mansfield                                             Virginia Bull

 Nikhil Varghese                                              Carlton Nelson

 Joshua Borlant                                               Tel: +44 (0) 20 7597 4000

 Tel : +44 (0) 20 3100 2222

 Alma (Financial Public Relations)

 Sam Modlin

 Joe Pederzolli

 Rebecca Sanders-Hewett

 Sarah Peters

 Tel: +44 (0) 20 3405 0205

 judges@almastrategic.com (mailto: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 consists
of 25 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/r02/___http:/www.judges.uk.com/___.YXAxZTpzaG9yZWNhcDphOm86ODFjOGIyZTRkZTc4NzdlNjE2NDY2NjEwZmM4YTk3N2Y6NzoxNjRhOjhjNjE1YmU4Yjc4NjQyMDJiMTcyZGQ5NDI0NmYyNDU2OGExM2FjMzkxMGM0ODBiNjY1ZDllZGZkYzIzZDk2OGU6cDpUOk4)

 

 

 

 

 

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