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Judges Scientific - Massive eps upgrade to 101.6p

February 2015

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • JDG
  • Price:
  • 1630p
The shares moved to recent new highs after Judges acquired Armfield, an instrument maker in Hampshire, for £8.3m with a further £1.5m based on future performance. Armfield comes with a cash balance of £2.56m and the deal is very eps enhancing on c.5.5x operating profit.Armfield designs and markets engineering equipment and teaching instruments to the education market, as well as research and development systems for the food, dairy, beverage, vegetable oils and pharmaceutical markets. In 2013, Armfield had sales of £12.2m and an adjusted operating profit of £1.66m, with the full earnout payable if it makes a profit of £1.96m in 2014. The acquisition also adds an office in North America for the fir ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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