Trading Statement

RNS Number : 5707C

Judges Scientific PLC

20 January 2015

 

Judges Scientific plc

20 January 2015

Judges Scientific plc (the "Group" or "Judges")

Trading statement

The Board of Judges is updating shareholders on the Group's trading performance for the financial year ended 31 December 2014.

Judges had a challenging year in 2014. Worldwide demand for the Group's products was subdued and this affected order intake, sales and margins. The Board had identified for several years the potential impact on its business from public spending restrictions in mature economies, to slower growth in China and to the strength of Sterling. Most of the Group's businesses were affected to some degree in 2014 by these factors.

In the first half, Judges produced a reasonable financial performance in spite of the weak orders but at the expense of the order book which contracted from 10.6 weeks to 7.8 weeks. Order intake remained depressed in the third quarter, as noted at the time of publication of the interim accounts, but recovered in the fourth quarter to a weekly level in line with the Group's original target. The outcome is a second-half intake which is much improved from the first half but still below the second half of 2013 and an order book of 9.7 week, substantially repaired from the June trough.

The Board anticipates the final results for 2014, due to be published in the last week of March, to show sales, profits and earnings per share in line with market expectations. Cash generation has been strong and the Group, after a difficult year, remains in a strong financial position.

The order recovery recorded in the fourth quarter is a positive but fragile encouragement for 2015; the readjustment of Sterling against the US Dollar is also helpful albeit mitigated by a weakening Euro. Despite the disappointments of 2014, the Group is in a healthy condition, fully able to pursue its acquisition strategy and to continue dividend growth.

Ends.

For further information please contact:

Judges Scientific Plc

David Cicurel, CEO

Tel: [phone]

Shore Capital (Nominated Adviser & Broker)

Pascal Keane

Edward Mansfield

Tel: [phone]

Cardew Group (Financial Public Relations)

Georgina Hall

Tel: [phone]  or 07740 720 462

 

END

 

 

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