Judges Scientific earnings set to beat expectations

The AIM-traded company said that despite a “difficult” external environment, its business model showed “resilience” as it further executed its strategy.

Organic order intake was up 0.5% compared with the record performance Judges reached in 2021.

Following a “solid” first half, the board said organic intake softened in the second half, but picked up strongly in December with the relaxation of China's Covid-19 restrictions.

Organic revenues increased 8% compared to 2021.

As organic order intake exceeded organic revenue, the organic order book at year-end on 31 December increased to 21.1 weeks, from 19.8 weeks at the end of 2021.

“At the end of May, the group completed its largest acquisition to date - Geotek - for a total consideration of up to £80m,” the board said in its statement.

“As anticipated at the time of the group's interim results in September, Geotek has delivered a strong contribution in the second half of the financial year, with the board expecting it to have generated the level of profits required to trigger the maximum earn-out.

“As a result of the solid organic performance together with the first-year contribution from Geotek, the board anticipates that adjusted earnings per share for 2022 will be modestly ahead of current market expectations.”

Judges Scientific said it would announce its full-year results for the year ended 31 December on 22 March.

At 1520 GMT, shares in Judges Scientific were up 0.25% at 7,970p.

Reporting by Josh White for Sharecast.com.