Judges Scientific PLC Trading Statement and Notice of Final Results (8389K)
07 Enero 2021 - 1:00AM
UK Regulatory
TIDMJDG
RNS Number : 8389K
Judges Scientific PLC
07 January 2021
Press Release 7 January 2021
Judges Scientific plc (the "Group" or "Judges")
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 2020.
As previously disclosed, following the outbreak of Covid-19 and
the subsequent difficult trading conditions associated with
lockdowns across the globe, the main impact on the Group has been
on order intake which fundamentally drives all other Group key
performance metrics. For 2020, year-on-year Organic(1) order intake
receded by 13%. Notwithstanding this, the Group starts 2021 with a
comfortable Organic order book, equivalent to 14.0 weeks of
budgeted sales(2) (31 December 2019: 13.2 weeks). Strong bookings
by the recent acquisitions brings the total order book to 15.5
weeks.
The Group delivered significant profit in each month of 2020 and
cash generation remained healthy throughout the period. Exchange
rates remained favourable throughout the year in spite of Sterling
strengthening in the run-up to the conclusion of a trade deal with
the EU. In parallel, the Group continued to deliver on its
acquisition strategy with the completion of two acquisitions.
The Group continues to prioritise the safety of its colleagues,
and despite the numerous challenges posed by the pandemic, the
Group's performance has remained resilient with the second half of
the financial year showing a gradual improvement in our trading
environment. As a result, the Board anticipates that Adjusted(3)
Earnings Per Share for the full year ended 31 December 2020 will be
ahead of market expectations(4) .
Notice of Final Results
Judges expects to announce its full year results for the year
ended 31 December 2020 on 23 March 2021.
Notes:
1. Organic includes those businesses owned by the Group prior to 1 January 2019.
2. The 31 December 2020 Organic order book is approximately
GBP1.8m lower than December 2019 but shows an increase in the
number of weeks of budgeted sales as a result of a more prudent
FY2021 budget to reflect COVID uncertainty.
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 151.8p.
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:
Judges Scientific
David Cicurel, CEO Tel: +44 (0) 20 3829
Brad Ormsby, Group FD 6970
Shore Capital (Nominated Adviser
& Broker)
Stephane Auton Tel: +44 (0) 20 7408 4090
Edward Mansfield
Sarah Mather
Tel : +44 (0) 20 3100 2222
Liberum (Joint Broker)
Bidhi Bhoma
Euan Brown
Media enquiries :
Alma PR (Financial Public
Relations)
Rebecca Sanders-Hewett Tel: +44 (0) 20 3405 0205
Justine James judges@almapr.co.uk
Sam Modlin
Notes to editors:
Judges Scientific plc (AIM: JDG), is a group involved in the buy
and build of scientific instrument businesses. The Group currently
consists of 19 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 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 repayment of debt, organic growth
and dividends.
For further information, please visit www.judges.uk.com
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END
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