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Judges Scientific - Strong H2 promised

November 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:
  • 1500p
The latest H1 contained no real surprises from scientific instrument maker Judges. As had been well documented previously, the results largely reflect the weaker order intake through the first three quarters. The old business experienced a stalling of sales (down 10% but there is considerable negative operational leverage) and the gap was filled with the acquisition of Armfield, acquired in January, which is lower margin.Sales therefore went up by 14% to a record £24.9m whilst pretax profit and eps were each down 18% to £3.3m and 40.3p. Regionally, Judges saw weak organic performances in North America, Europe and Japan but there was a strong showing in China. Net debt at the year end was £7.5m.Order intake h ...

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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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