Financial Reports

Interim Statement 2023

“During the period all the measures of Organic performance were again beaten, with results bolstered by the contribution from Geotek. While we have not yet returned to a pre-pandemic trading environment and we continue to operate in a challenging world, we have seen improving prospects across our markets. We are well configured moving forwards, strengthened by a reinforced executive team and a solid order book, with a strong second half anticipated for the Group."

Alex Hambro, Chairman of Judges Scientific plc

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Annual Report and Accounts 2022

“I am pleased to report that your Group has achieved new records in Organic order intake, revenue and adjusted operating profit, despite contending with a challenging environment. In May 2022, the Group completed its largest ever acquisition, Geotek, which delivered a strong contribution in the second half of the financial year. I would like to take this opportunity to sincerely thank our colleagues for their continued diligence. The resilience of the Group's businesses and the validity of its model have once again come to the fore and are reflected in these results."

Alex Hambro, Chairman of Judges Scientific plc

Click here for the Notice of the Annual General Meeting on Monday 22 May 2023

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Interim Statement 2022

“During the period the Group generated record Organic order intake, revenues and profits in spite of increasing supply chain challenges, whilst still continuing to recover from the challenges created by Covid-19. At the end of May, the Group completed its largest acquisition to date, Geotek. The resilience of the Group's business model alongside the hard work by all our colleagues have once again been evident throughout the period and are reflected in the results."

Alex Hambro, Chairman of Judges Scientific plc

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Annual Report and Accounts 2021

"I am pleased to report that your Group has delivered record revenue, profits, cash generation and dividends in a year which still presented challenges as a consequence of the pandemic. The resilience of the Group’s business model and a good performance from recent acquisitions alongside the hard work by all our colleagues have enabled Judges to stage a solid recovery."

Alex Hambro, Chairman of Judges Scientific plc


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Interim Statement 2021
"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"

Alex Hambro, Chairman of Judges Scientific Plc

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Annual Report and Accounts 2020

“It was unfortunate that the pandemic interrupted the momentum of our financial progress but I am proud that our businesses took swift, proactive and bespoke action to optimise their performance through this difficult year. I would like to thank our colleagues at every level who worked resolutely to maintain the Group’s solid profitability without sacrificing future opportunities. Your Group’s resilience has enabled it to continue executing its business model with the completion of two acquisitions and to recommend an increased final dividend for the year”

Alex Hambro, Chairman of Judges Scientific Plc


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Interim Statement 2020
“The Group’s performance was impacted by the outbreak of COVID-19 and the subsequent difficult trading conditions associated with lockdowns across the globe. Despite this, the Group’s business model has remained intact with the Company continuing to be profitable and cash generative throughout the period and executing on its acquisition strategy”

Alex Hambro, Chairman of Judges Scientific Plc

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Annual Report and Accounts 2019
“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


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Interim Statement 2019

"It is gratifying to be able to report record figures across revenues, adjusted profit before tax, adjusted earnings per share and dividends for the first half of 2019, maintaining the positive financial performance experienced since the second half of 2016."

Alex Hambro, Chairman of Judges Scientific plc

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Annual Report and Accounts 2018
"I am delighted to report that in the financial year ended 31 December 2018, the Group achieved new records in order intake, revenues, cash generation, adjusted pre-tax profit and adjusted earnings per share. In the absence of an acquisition the Group has achieved a net cash position at the year-end providing a robust position for future corporate development when opportunities arise. Pleasingly the performance has been achieved this year through organic growth and efforts to achieve operational excellence, highlighting the inherent commercial strength of the businesses within the Group. The long-term growth drivers in the scientific instruments industry remain robust and, whilst volatility in short term demand remains a feature within our sector, the climate – and exchange rates – were in our favour as evidenced by the consistently strong demand for our products observed over more than the last two and a half years. 

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 28p, making a total of 40p in respect of 2018, a 25% increase on the prior year (2017: 32p). As a result of this payment, the Company will have returned to its original shareholders in cumulative dividends more than twice the Company’s original subscription price."

Alex Hambro, Chairman of Judges Scientific plc


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Interim Statement 2018
"During the period, the Group achieved new records in terms of revenues, adjusted profit before tax, adjusted earnings per share and dividends. This strong momentum has been maintained since the end of the period.”

Alex Hambro, Chairman of Judges Scientific plc

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Annual Report and Accounts 2017
"I am delighted to be able to report record order intake, record revenues, record adjusted pre-tax profit and record earnings per share for the year ended 31 December 2017. Pleasingly, performance has been achieved through both organic growth and contributions from our acquisitions, illustrating the execution of both facets of our strategy. The long-term growth drivers in the scientific instruments industry remain robust and, whilst volatility in short term demand remains a feature within our industry, the climate was in our favour as evidenced by the strong demand for our products observed over the last 18 months.

As well as record financial results, 2017 has been a year of significant progress for the Group and within our businesses. The Group completed its 16th acquisition and the two businesses that had experienced lower demand in 2016 returned to normal levels of orders, sales and profitability.

Delivering returns to our shareholders remains the objective of the Group and as such the Board is pleased to be recommending a final dividend of 22.0p, making a total of 32.0p in respect of 2017, a 16.4% increase on the prior year (2016: 27.5p)."

Alex Hambro, Chairman of Judges Scientific plc

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Interim Statement 2017
“The first half of 2017 has seen the Company deliver record figures across revenues, adjusted profit before tax, adjusted earnings per share, and dividends.  This is a robust recovery from the Company’s performance in the first half of 2016.  

“The Company has a healthy order book which provides the Board with confidence that the Group can deliver a full year performance in line with market expectations, and the recent acquisition of Oxford Cryosystems demonstrates that the Group continues to deliver on its buy and build strategy with the completion of its 16th acquisition.”

Alex Hambro, Chairman of Judges Scientific plc

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Annual Report and Accounts 2016

“Although 2016 was a year of contrasts for Judges with the completion of a record four acquisitions but a disappointing trading performance, Judges commences 2017 with a solid financial position, four new businesses, a strong order book and positive order intake since the start of the year, all of which provides a platform for a year of progress.”

Alex Hambro, Chairman of Judges Scientific plc

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Interim Statement 2016

"This has been a period of contrast, with success in the pursuit of earnings-enhancing acquisitions and frustration in respect of short-term trading performance. At this stage, the Board therefore believes that the full year results will be significantly below market expectations.”

Alex Hambro, Chairman of Judges Scientific plc

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Annual Report and Accounts 2015

"Your Group achieved notable progress in 2015, duly reflected in record sales, pre-tax profits and earnings per share. Despite some short-term volatility, the market for scientific instruments continues to benefit from excellent long-term growth drivers. This is illustrated by our steady but consistent growth in revenues and dividends. 

The Group starts the year with a solid order book, a small but exciting new acquisition and a strong financial position, all of which serves to underpin the Board’s confidence that Judges is well positioned to face the inevitable challenges that 2016 will bring."

Alex Hambro, Chairman of Judges Scientific plc

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Interim Statement 2015

“These mid-year figures reflect the weak order intake experienced throughout much of 2014 and the first quarter of this year. I am pleased to report, however, that order intake in the last six months has shown a significant improvement which will bear fruit in the second half. Meanwhile, the acquisition of Armfield illustrates Judges’ continuing ability to execute its growth strategy, utilising the Group’s cash generation. As a consequence the Board remains confident in the ability of the Group to meet market expectations for the full year.”

Alex Hambro, Chairman of Judges Scientific plc

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Annual Report and Accounts 2014

“The year just closed proved disappointing with weak order intake in most of our businesses progressively affecting all measures of performance. On the other hand our business model remains intact, supported by solid cash generation, as evidenced by the £10 million acquisition of Armfield announced early in the New Year.”

Alex Hambro, Chairman of Judges Scientific plc

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Interim Statement 2014

"I am able to announce a record set of interim results for the ninth consecutive year. As indicated in our trading statement in July, progress at the mid-year has been driven by Scientifica’s contribution, with only modest organic growth. The business climate within the instrumentation sector remains challenging but your Group’s ability to pursue its strategic objectives is undiminished."

Alex Hambro, Chairman of Judges Scientific plc

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Annual Report and Accounts 2013

"I am pleased to be able to report, for the eighth consecutive year, record levels of sales, adjusted pre-tax profits, adjusted earnings per share and dividends.  Your Company enjoyed a successful year, which saw further corporate activity and a satisfactory trading performance achieved in a challenging economic environment."

Alex Hambro, Chairman of Judges Scientific plc

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Interim Statement 2013

"I am delighted to be able to announce a record set of interim results for the eighth consecutive year. The acquisition of Scientifica Limited was completed at the end of the period and should make a strong and immediate contribution to earnings. Our Group continues to display encouraging resilience against the backdrop of a generally challenging environment."

Alex Hambro, Chairman of Judges Scientific plc

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