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Judges Scientific

May 2017

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:
  • 1475p
Overall, 2016 was a good year for acquisitions at Judges with four completed at a total cost of £9.4m (CoolLED, Dia-Stron, FIRE and EWB). But management cede it as a poor year for performance as part period contributions from the acquisitions only partly offset a downturn in three of its 13 businesses - Armfield (in the Materials Science cluster) and two businesses in its Vacuum cluster.Sales overall came out at £57.3m, up 2% year-on-year. Adjusted pretax profit was down from £8.7m to £6.6m. Eps fell from 107.3p to 83.7p (favourable R&D tax credits resulted in an 11% tax charge). Net debt at the period end was £9.9m.Armfield has always been a bit of a strange creature. If you re-read my origi ...

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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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

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