REG - Judges ScientificPLC - Half Year Trading Update

Judges ScientificAnnouncement

24/07/2025 07:00

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RNS Number : 3201S  Judges Scientific PLC  24 July 2025

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

24 July 2025

Judges Scientific plc

("Judges Scientific", "the Company" or "the Group")

Half Year Trading Update and Notice of Interim Results

Judges Scientific (AIM: JDG), the group focused on acquiring and developing
companies in the scientific instrument sector, provides the following update
regarding the Group's trading performance for the six-month period ended 30
June 2025.

Trading in the first half of the financial year was materially impacted by
performance in the US. Trading will show progress versus H1 2024, primarily
driven by the completion of a coring expedition in Japan. However, excluding
Geotek, the recovery expected from the Group's businesses did not materialise,
due in particular to reductions in US federal government research funding (a
risk highlighted in our year-end results announcement in March 2025). In
addition, there were several unrelated market and product-specific challenges
at a handful of our businesses that impacted performance. Improvement actions
are underway in respect of these issues.

Order intake

Across the Group, Organic* order intake was up 4% when compared with H1 2024.
Organic orders were up in all regions except North America (down 18%) and the
UK (down 7%).

Order book

The Organic order book was 17.4 weeks (FY 2024: 19.2 weeks;  H1 2024: 17.2
weeks) and the total order book was 18.1 weeks.

Revenue

Organic revenue in the first half was up 7% compared with H1 2024; this
reflects the coring contract and progress in all regions except North America
(down 20%).

Profits

Geotek's profitability has now recovered from a difficult 2024. The Organic
businesses excluding the contribution from Geotek, declined by 7% compared
with H1 2024 with EBIT contribution reducing by a third primarily due to the
aforementioned challenges.

As a result, Adjusted earnings per share in the first half is expected to have
progressed by approximately 15% for the period.

Outlook

Our business relies heavily on public spending and the environment remains
difficult, particularly in the US. More broadly, our Executive Committee
continues to work closely with all our Group businesses to encourage growth,
innovation, and improvement, with a determined effort to drive recovery at
those companies that are experiencing trading challenges.

As a result of these headwinds coupled with the aforementioned business
specific issues, the Board now anticipates delivering Adjusted basic earnings
per share of between 285p and 330p per ordinary share in FY25 which is below
market expectations**.

The Group still maintains a healthy order book, and a solid financial position
underpinned by good cash generation, which gives the Board confidence that the
disappointing performance of the first half does not hamper the Group's
continuing strategy and its ability to deliver durable returns for
shareholders.

*References to "Organic" information in this update exclude any contribution
from Luciol SA, Rockwash Limited and Teer Coatings Limited.

** Current consensus market expectations for the year ended 31 December
2025 are Adjusted basic earnings per share of 367.2p.

Notice of Results

The Company intends to announce its interim results for the six months to 30
June 2025 on Thursday 18 September 2025.

The person responsible for arranging the release of this announcement on
behalf of the Company is Brad Ormsby, CFO of the Company.

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

 Tel : +44 (0) 20 3100 2222                                   Tel: +44 (0) 20 7597 4000

 Alma (Financial Public Relations)

 Sam Modlin

 Rebecca Sanders-Hewett

 Joe Pederzolli

 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 now
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
(http://www.judges.uk.com/)

 

 

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