“I am delighted to report that in the financial year ended 31 December 2019, the Group achieved new records in order intake, revenues, cash generation, adjusted pre-tax profit and adjusted earnings per share. The Group was able to complete a small acquisition, pay a special dividend of £12.4 million and still finish the year with minimal net debt, maintaining a robust ability to take advantage of opportunities as they arise.
As the acquisition of Moorfield Nanotechnology Limited (“Moorfield”) completed in December 2019, the growth and record performance this year was predominantly organic. The long-term growth drivers in the scientific instruments industry remain robust and exchange rates continued to favour us throughout the year. Demand for our products, which had been very strong since June 2016, was more volatile in 2019 but order intake still finished ahead of the previous year.
Delivering returns to our shareholders remains the core objective of the Group and as such the Board is pleased to be recommending a final dividend of 35p, making a total of 50p in respect of 2019, a 25% increase on the prior year (2018: 40p); this excludes the special dividend of £2 paid in December 2019. Since the payment of the first dividend in respect of 2006, regular dividends have grown at a compound annual rate of 24.2%.”
Alex Hambro, Chairman of Judges Scientific Plc