REG - Judges ScientificPLC - Trading Update

Judges ScientificAnnouncement

18/11/2024 07:00

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RNS Number : 5845M  Judges Scientific PLC  18 November 2024

 Press Release  18 November 2024

 

Judges Scientific plc

 

("Judges Scientific" or the "Company")

 

Trading Update

 

Judges Scientific, the group focused on acquiring and developing companies in
the scientific instrument sector, today provides an update on trading.

 

As announced at the time of the Group's Interim Results in September, several
of our Group businesses had experienced a challenging first half, driven by
difficult market conditions and the deferral of some projects into H2 or 2025.
We expected the second half to show significant improvement, with a number of
agreements signed too late to impact the first half but contributing to the
second, in addition to the signature of a 2025 coring contract.

 

As anticipated, H2 will show progress compared to H1. However, achievement of
the expectations for the full year, which were revised downwards in July, was
reliant upon the crystallisation and delivery of certain orders. We now
believe these will not all occur in time to deliver against the expectations
before the end of the year.

 

Organic order intake YTD to the end of October has progressed 4.2% vs 2023
including a coring contract by Geotek. Order intake would be 1.6% down if we
excluded this contract, indicating that the general level of orders across the
Group has not yet recovered to the growth path traditional for our Group.

 

As a result, the Board now expects Adjusted basic earnings per share for the
year to 31 December 2024 to be between 270p and 300p.

 

In spite of the disappointing trading performance, the Board is confident that
the long-term growth drivers of our business remain solid.

 

 

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

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

 

 

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