Full Year Trading Statement and Notice of Results

RNS Number : 1836N

Judges Scientific PLC

19 January 2023

 

19 January 2023

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 2022. 

Throughout 2022 the Group had to contend with increasing supply chain issues, the impact of the war in Ukraine and significant inflationary pressures, all whilst continuing to recover from the challenges created by Covid-19. In spite of the difficult external environment, the Group continued to display the resilience of its business model and further execution of its strategy.

Organic order intake was up 0.5% compared with the record performance reached in 2021. Following a solid H1, Organic intake softened in the second half, but picked up strongly in December with the relaxation of China's Covid-19 restrictions. Organic revenues increased 8% compared to 2021. As Organic order intake exceeded Organic revenue, the Organic order book at 31 December 2022 increased to 21.1 weeks (31 December 2021: 19.8 weeks).

At the end of May 2022, the Group completed its largest acquisition to date, Geotek, for a total consideration of up to £80m. As anticipated at the time of the Group's interim results in September, Geotek has delivered a strong contribution in the second half of the financial year, with the Board expecting it to have generated the level of profits required to trigger the maximum earn-out.

As a result of the solid Organic performance together with the first-year contribution from Geotek , the Board anticipates that Adjusted earnings per share for 2022 will be modestly ahead of current market expectations.

Notice of Final Results

The Company intends to announce its full year results for the year ended 31 December 2022 on 22 March 2023.

For further information please contact:
Judges Scientific plc David Cicurel, CEO Brad Ormsby, FD	Tel: [phone]
Shore Capital (Nominated Adviser & Broker) Stephane Auton Iain Sexton	Tel: [phone]
Liberum (Joint Broker) Edward Mansfield William Hall	Tel: [phone]
Alma PR (Financial Public Relations) Sam Modlin Justine James Joe Pederzolli	Tel: [phone] [e-mail]

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 20 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 companies hold 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 repayment of debt, organic growth and dividends.

For further information, please visit www.judges.uk.com

 

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