Judges Scientific hikes interim dividend 15% as profit beats expectations

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Judges Scientific PLC (AIM:JDG) increased its interim dividend 15% as the company continues to recover from the impact of the Coronavirus (COVID-19) pandemic.


The scientific instruments group reported revenue of GBP43.0mln from the first six months of 2021, up 15% on the year before. Adjusted pre-tax profit rose 32% to GBP8.5mln.


Chairman Alex Hambro said: “Pleasingly, the group’s performance has started to recover from the initial impact of the pandemic. Whilst there are further obstacles to overcome, the group’s resilience and adaptability and the contribution of the recent acquisitions have enabled the first half performance to reach the record established in 2019.”


Order progress was strongest in geographies which were affected most in 2020, the company said, with North America up 41%, continental Europe up 34%, the UK up 26%, China/Hong Kong up 2% and the rest of the world up 8%.


As cash generated from operations surged 57% to GBP8mln, the half-time dividend was hiked to 19p from 16.5p a year ago.


House broker Liberum said adjusted profit was 12% ahead of its expectations and the business is “recovering strongly …but with plenty more to go for”.

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