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Judges Scientific sees 'strong' first-half earnings growth

By BFN News | 08:12 AM | Monday 22 July, 2019


Scientific instrument group Judges Scientific said it expected to post 'strong progress' in first-half revenue and earnings, despite a small contraction in second-quarter orders. Order intake in the six months through June was 4.2% higher on-year, the company said in a trading udpate. The growth resulted from a solid progression in the first quarter followed by the contraction in the second quarter. Sales in the first half were bolstered by 'the solid order book available at the beginning of 2019' and by efforts increase operational efficiency and reduce customer delivery lead times. 'These operational improvements resulted in revenue running ahead of orders and hence a moderate reduction of the order book,' Judges Scientific said. On 30 June 2019, the order book stood at 13.2 weeks of sales against 14.4 weeks at the start of 2019 and 15.0 weeks at 30 June 2018. 'The strong sales performance throughout the group and continued positive influence of exchange rates have helped to deliver a sound performance and the board expects the interim results to show strong progress in revenues, Ebit and earnings per share,' the company said. 'The group has enjoyed a good first half, partially helped by consumption of some of the order book; the outlook for the year remains positive and the board is confident that market expectations for the year will be achieved.' At 8:12am: (LON:JDG) Judges Scientific PLC share price was +5p at 3585p Story provided by StockMarketWire.com

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