Full Year Trading Statement and Notice of Results
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 2021.
2021 was a year of recovery for the Group from the worst impact of Covid-19. The adaptability of our sector and its customers coupled with the reduced severity of lockdowns and university closures enabled year-on-year Organic1 order intake to increase by 25.1%. Further, despite the remaining commercial challenges still caused by Covid-19, Organic2 order intake was up 8.5% against 2019, which was the previous record year for the Group.
The Group starts 2022 with a strong order book. Organic growth in bookings and a good performance by recently acquired businesses propelled our year-end total order book to 22.5 weeks. The Organic order book was 21.9 weeks at 31 December 2021 (31 December 2020: 14.7 weeks).
Order intake remains the main driver of performance and consequently the recovery in orders resulted in good progress in revenues. Organic revenue, which was 5% ahead in the first half, accelerated in the second half to reach double-digits for the year as a whole.
As a result of the positive performance of the Group, the Board now anticipates that Adjusted3 Earnings Per Share for the full year ended 31 December 2021 will be ahead of market expectations4.
Notice of Final Results
The Company intends to announce its full year results for the year ended 31 December 2021 on 23 March 2022.
1. Organic includes those businesses owned by the Group prior to 1 January 2020.
2. In this context only, Organic includes the businesses owned by the Group prior to 1 January 2019.
3. Adjusted earnings figures are stated before adjusting items relating to hedging of risks materialising after the end of the period, amortisation of acquired intangible assets, share based payments and acquisition-related costs.
4. Market consensus Adjusted Earnings Per Share of 209.7p.
This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation (EU) 596/2014. The person responsible for making this announcement on behalf of the Company is Brad Ormsby.
For further information please contact:
David Cicurel, CEO
Brad Ormsby, Group FD
Tel: +44 (0) 20 3829 6970
Shore Capital (Nominated Adviser & Broker)
Tel: +44 (0) 20 7408 4090
Liberum (Joint Broker)
Alma PR (Financial Public Relations)
Tel : +44 (0) 20 3100 2222
Tel: +44 (0) 20 3405 0205
Notes to editors:
Judges Scientific plc (AIM: JDG), is a group focused on acquiring and developing companies in the scientific instrument sector. The Group currently consists of 19 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